Capital Alliance stocks yesterday commenced trading on the CSE floor, selling up to 73.00 percent of stocks. This actually fuelled the market throughout the day, market analysts said.
The stock is listed on the CSE Main Board, under the ‘Diversified Financials’ sector. A bell ringing ceremony took place in the morning to mark trading commencement.
Capital Alliance Holdings Limited, which has interests in bond trading, fund management, corporate finance and equity trading with operations in Sri Lanka and Bangladesh, offered shares at Rs 10 each in its initial public offering.
The company planned to raise Rs 1,575 million from its initial public offer of shares, but the issue received Rs 23.3 billion of applications, indicating an oversubscription of 15.5 percent.
Amid those developments, the CSE was extremely bullish, on account of mainly Capital Alliance, thus resulting in both indices moving upwards. The All Share Price Index went up by 61.88 points while S and P SL20 rose by 37.52 points. Turnover stood at Rs 5.1 billion with 11 crossings.
Those crossings were reported in Lanka IOC, which crossed 654,000 shares to the tune of Rs 85 million and its shares traded at Rs 130, Digital Mobility Solutions (PickMe) 830,000 shares crossed for Rs 63 million; its shares traded at Rs 76, Capital Alliance Holdings 3.9 million shares crossed for Rs 39.8 million and its shares traded at Rs 10, Commercial Credit and Finance 475,000 shares crossed for Rs 35.6 million and its shares sold at Rs 75.
NDB 327,000 shares crossed to the tune of Rs 35 million and its shares traded at Rs 107, C.W Macky 250,000 shares crossed for Rs 32.5 million; its shares sold at Rs 130, Commercial Bank 200,000 shares crossed to the tune of Rs 29.8 million; its shares traded at Rs 140, Melstacope Rs 200,000 shares crossed to the tune of Rs 29.7 million; its shares sold at Rs 148.50, CIC Holdings 200,000 shares crossed for Rs 24.3 million; its shares fetched Rs 21.50, Sampath Bank 200,000 shares crossed to the tune of Rs 23 million and its shares traded at Rs 115 and JKH 1 million shares crossed for Rs 21 million; its shares traded at Rs 21.
In the retail market companies that mainly contributed to the turnover were; Capital Alliance Rs 994 million (64.9 million shares traded). RIL Properties Rs 343 million (16.8 million shares traded), Sierra Cables Rs 245 million (48.5 million shares traded), Sampath Bank Rs 210 million (1.8 million shares traded), JKH Rs 199 million (9.5 million shares traded) and Pan Asia Bank Rs 189 million (4.7 million shares traded). During the day 210 million share volumes changed hands in 36000 transactions. It is said that the banking and financial sector was the main attraction of the day, while the manufacturing sector performed well too.
Yesterday, the rupee opened flat at Rs 299.30/45 to the US dollar in the spot market, against the previous day’s close of Rs 299.35/45, dealers said, while bond yields opened steady.
A bond maturing on 15.05.2027 was quoted at 8.20/30 percent. A bond maturing on 15.10.2028 was quoted at 8.80/90 percent. A bond maturing on 15.09.2029 was quoted at 9.35/40 percent. A bond maturing on 15.09.2034 was quoted flat at 10.35/45 percent.
By Hiran H.Senewiratne ✍️
