LOLC Group counters keep share market ticking

The stock market yesterday kicked off with mounting selling pressure due to profit- takings but later ended on a positive note for the eleventh consecutive day.

The main reason for the market to perform well was the growing trend among mainly LOLC Group counters, market analysts said.

Amid those developments both indices moved upwards. The All Share Price Index went up by 79.2 points while S and P SL20 rose by 38.37 points.

Turnover stood at Rs 4.3 billion with six crossings. Those crossings were reported in Hemas Holdings, where 1million shares sold the tune of Rs 93.1 million; its shares traded at Rs 92, Sampath Bank 650,000 shares crossed for Rs 65 million; its shares traded at Rs 99, Dialog 5 million shares crossed to the tune of Rs 65 million; its shares sold at Rs 10.50, JKH 2 million shares crossed for Rs 42 million; its shares traded at Rs 21, Digital Mobility Solutions 495,000 shares crossed for Rs 29.9 million and its shares traded at Rs 60 and Ambeon Capital 900,000 shares crossed for Rs 20.1 million; its shares fetched Rs 22.30.

In retail market companies that contributed to the turnover were; LOLC Holdings Rs 410 million (819,000 shares traded), Brown’s Investments Rs 208 million (33 million shares traded), JKH Rs 197 million (9.4 million shares traded), Seylan Bank (Non- Voting) Rs 171 million (3.8 million shares traded), LOLC Finance Rs 160 million (24.3 million shares traded) and Digital Mobility Solutions Rs 136 million (2.2 million shares traded). During the day 235 million shares volumes changed hands in 31900 transactions.

It is said that the LOLC Holdings Group of companies drove the market. Manufacturing sector counters gained during the day.

Yesterday, the rupee opened stronger at Rs 290.30/40 to the US dollar from Rs 290.30/45 to the US dollar the previous day, dealers said, while bond yields were down.

A bond maturing on 15.10.2027 was quoted at 10.00/10 percent, down from 10.15/25 percent.

A bond maturing on 15.02.2028 was quoted at 10.38/43 percent.

A bond maturing on 01.05.2028 was quoted at 10.45/55 percent, down from 10.55/70 percent.

A bond maturing on 15.09.2029 was quoted at 10.85/90 percent, down from 10.90/11.00 percent.

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