CSE turnover crosses LKR6 bn amid internal share transfer of ODEL

Sri Lanka, Nov 13 (Capital Leads) – The Colombo Stock Exchange (CSE) ended on a positive note today with both indices recording gains as market turnover crossed LKR6 bn backed by an internal share transfer in Odel PLC (ODEL). Meanwhile, net foreign purchases in the market turned positive for the second straight session amid foreign interest in Softlogic Life (AAIC).

ASPI gains for the third straight session: The broad market All Share Price Index (ASPI) gained 12.60 points to close the session at 5,993.54 points, 0.21 percent higher than yesterday. Meanwhile, S&P SL20 Index ended 22.89 points higher to reach 3,128.87 points, 0.74 percent above the previous session.

Turnover crosses LKR6 bn as crossings in ODEL dominate: With Softlogic Retail (Private) Limited and Softlogic Holdings (SHL) divesting their holding of 204.7 mn and 44.6 mn shares in ODEL at LKR25.0 to Softlogic Retail Holdings (Private) Limited, a fully-owned subsidiary of SHL, off-board transactions accounted for 95 percent of the day’s turnover.

The total number of shares transacted stood at 281.6 mn as daily turnover reached LKR6.7 bn (USD38.1 mn), expanding the year-to-date average daily turnover to LKR846.5 mn (USD4.8 mn).

Backed by ODEL, footwear and textiles sector leads turnover generation: Generating 93 percent of total turnover, ODEL spearheaded today’s turnover generation as the stock gained 0.39 percent amid six crossings of 249.0 mn shares traded at LKR25.0.

The sector of footwear and textiles led the sector-wise contribution to the turnover with 93 percent as its index edged up 0.53 percent while banks, finance and insurance sector gaining 0.39 percent followed up with 3 percent of contribution.

Market posts net foreign inflow for the second straight session: Posting the second straight session of net foreign inflow, overseas investors bought stocks worth a net LKR53.8 mn (USD0.3 mn) today, contracting the year-to-date net foreign outflow to LKR17.4 bn (USD99.3 mn).

Furthermore, MTD Walkers (KAPI) and Browns Beach Hotel (BBH) were among the highest gainers of the market today while Browns Capital (ALCH) and Teejay Lanka (TJL) were two of the most active counters of the day.

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