JKH share prices on a three-day rise; main CSE indices up

JKH share prices have been on the rise over the last three days, pushing its per share value up to Rs. 140.10 from Rs. 135.50 at the CSE amid foreign selling pressure yesterday, market sources said.

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Consequently, both indices moved up, ie, the All Share Price Index by 63.4 points and S and P SL20 by 86.74 points. The day’s turnover stood at Rs. 1.47 billion with six major crossings or arranged transactions Those transactions came from Commercial Bank, which crossed 4.38 million shares to the tune of Rs. 474.4 million, per share value Rs109.50, HNB crossed one million shares to the tune of Rs. 209.3 million, per share value Rs. 210, Nestle 128,000 shares crossed for Rs. 204.8 million, Lion Brewery 160,000 shares crossed for Rs. 91.9 million, per share value Rs. 545, JKH 653,000 shares crossed for Rs. 91 million, per share value Rs. 140 and NDB 445,000 shares crossed for Rs. 44.1 million, per share value Rs. 99.

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In the retail market, companies that mainly contributed to the day’s turnover were: NDB Rs. 105.6 million (1.1 million shares traded), JKH Rs. 59.8 million (429,000 shares traded) and Commercial Bank Rs. 38.4 million (355,000 shares traded). During the day 19.6 million share volumes changed hands in 4391 transactions.

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In the external market the  rupee closed on Thursday near a record low hit earlier this week as banks and importers purchased the dollar, while stocks closed flat with higher turnover.

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The rupee ended at 172.80/90 per dollar on Thursday, compared with its previous close of 172.60/70.The rupee dropped to an all-time low of 173.00 per dollar on Tuesday, surpassing its previous low of 172.50 hit on Monday.

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The Central Bank surprised financial markets on Oct. 2 by leaving its key policy rates unchanged despite heavy pressure on the rupee and foreign outflows from government securities.

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The rupee has weakened 2.1 percent so far this month after a 4.7 percent drop in September against the dollar. It has dropped 12.45 percent so far this year.

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The Colombo stock index ended 0.03 percent weaker at 5,768.54. It shed 3.6 percent last month, and lost 9.4 percent so far this year.

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Data from the Central Bank showed foreign investors sold government securities worth a net Rs. 5.3 billion  ($30.7 million) in the week ended Oct. 17. Sri Lanka has seen a net outflow of Rs. 85.9 billion  in securities so far this year.

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Foreign investors were net sellers of shares worth Rs. 277.5 million  on Thursday, extending the year-to-date net foreign outflow to Rs.  9.4 billion worth of equities.

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Meanwhile, JKSB reports –

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ASPI: 5,831.96 (+63.42 pts; +1.10%); Val T/O: Rs. 1.47bn (US$8.55mn); Vol T/O: 19.6mn; Trades: 4,391

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Advance/decline ratio: 162/25; Top gainer: SEMB.X (+50.00%) ; Top loser: SUN.N (-9.09%)

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Highlights:

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*The ASPI saw gains amid healthy turnover levels with advances exceeding declines by more than 6 to 1. COMB, HNB, and NEST led market activity including crossings also seen in LION, JKH, and NDB. Trading in COMB amounted to 35% of total turnover.

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*Banks, Finance, & Insurance was the most actively traded sector (+2.09%)

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*Trading was the best performing sector (+2.35%), supported by gains on TESS.N (+20.00%)

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*Investment Trusts was the worst performing sector (-0.64%), dragged down by declines on ASCO.N (-7.11%)