CSE turnover hits Rs. 5 billion mark, driven by Agstar crossings

By Hiran H. Senewiratne

Stock market turnover touched the Rs 5 billion mark yesterday, mainly driven by two crossings that occurred in Agstar PLC, which is a subsidiary of the Browns Group. According to market sources, the crossing was an internal transaction between Agstar and Browns Investments, worth over Rs 4 billion.

Amid those developments, the market began on a positive note but during the middle sessions it turned marginally negative. The Agstar crossing put the stock market into a healthy position. Both indices moved downwards. The All Share Price Index went down by 8.6 points and S and P SL20 3.2 declined by 3.2 points. Turnover stood at Rs 5 billion with five crossings.

Those crossings were reported in Agstar, which crossed 269 million shares to the tune of Rs 4 billion; its shares traded at Rs 15, Agstar (Non- Voting) 17.4 million shares crossed for Rs 209 million and its shares traded at Rs 12, Sampath Bank 2 million shares crossed for Rs 142 million; its shares sold at Rs 71, HNB 623,000 shares crossed to the tune of Rs 102 million; its shares fetched Rs 164 and Agrapathana Plantations 8.2 million shares crossed for Rs 62.1 million; its shares traded at Rs 7.60.

In the retail market top seven companies that mainly contributed to the turnover were; Sampath Bank Rs 65.7 million (926,000 shares traded), Expolanka Holdings Rs 47.5 million (339,000 shares traded), Access Engineering Rs 38.3 million (1.9 million shares traded), Browns Investments Rs 24 million (5.1 million shares traded), Hayleys Fabrics Rs 22.3 (554,000 shares traded), Agstar Rs 19.5 million (2.2 million shares traded) and Agarapathana Plantation Rs 19.2 million (2.4 million shares traded). During the day 323 million share volumes changed hands in 6450 transactions.

It is said the high net worth and institutional investor participation was noted in Kotagala Plantations and JKH. Mixed interest was observed in Expolanka Holdings, Sampath Bank and Commercial Bank while retail interest was noted in Browns Investments, Industrial Asphalts and Alumex.

The Food, Beverage & Tobacco sector was one of the major contributors to the market turnover (due to Agarapathana Plantations).

The Banking sector was the second highest contributor to the market turnover (due to Sampath Bank and HNB Bank) while the sector index decreased. The share price of Sampath Bank moved down by 20 cents to Rs. 71. The share price of HNB Bank closed flat.

Yesterday, the rupee opened at Rs 326.90/327.00 to the US dollar, from 326.90/327.00 the previous day, dealers said.

Bond yields were steady. A bond maturing on 01.08.2026 was quoted at 13.70/80 percent from 13.75/85 percent. A bond maturing on 15.01.2027 was quoted at 13.80/90 percent from 13.75/85 percent.