would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc.. 
Home
By Hiran H.Senewiratne
CSE activities were bullish throughout yesterday following an International Monetary Fund decision, announced by its Board of Governors, that it has approved a 457 billion creation of Special Drawing Rights (about US 650 billion) that will be allocated to members effective August 23, stock market analysts said.
Under this arrangement Sri Lanka is expecting around US $ 780-800 million or an equivalent SDR allocation, which is expected to ease foreign exchange reserve pressures/ imports, since Sri Lanka does not have ample dollars in the country, analysts said.
“The SDR allocation will benefit all members, address the long-term global need for reserves, build confidence, and foster the resilience and stability of the global economy, IMF Managing Director Kristalina Georgieva said.
“It will particularly help our most vulnerable countries struggling to cope with the impact of the COVID-19 crisis, she said. SDRs are paper assets which can be exchanged for currencies, such as the US dollar, by selling to other central banks which are willing to part with their reserves.
Another reason for the market to be bullish was that Expolanka, which recorded very good profit, traded heavily in the market, being the fourth most valuable listed company in the CSE. It witnessed a price appreciation of Rs. 6.30 or 8.6 percent. Its shares started trading at Rs. 73.40 and at the end of the day they shot up to Rs. 79.70, contributing 27 points to the All Share Price Index.
In this bull run situation banking sector counters witnessed a marginal drop. Further, Senkadagala Finance yesterday announced plans for a right issue to raise up to Rs.474.5 million to help the company maintain its capital adequacy requirements ordered by the Central Bank.
Accordingly, the finance company controlled by the Balasuriya family will issue 8.6 million ordinary voting shares in the proportion of one new share for every nine existing shares, at a price of Rs.55 per share. The current stated capital of the company is Rs.1.95 billion. The Senkadagala Finance share was last traded at Rs.90.53.
Amid those developments both indices moved upwards. The All Share Price Index went up by 85.95 points and S and P SL20 rose by 43.08 points. Turnover stood at Rs. 6.65 billion with six crossings. Those crossings were reported in JKH, which crossed 1.65 million shares to the tune of Rs. 228 million, its shares traded at Rs. 138, TJLanka 2.5 million shares crossed for Rs. 107 million, its shares fetched Rs. 42.50, Hayleys 755,000 shares crossed for Rs. 51.5 million, its shares traded at Rs. 82, Grain Elevators 200,000 shares crossed for Rs. 28.4 million, its shares fetching Rs. 142, LOLC 50000 shares crossed for Rs. 24 million, at Rs. 485 per share and Royal Ceramic 536,000 shares crossed for Rs. 22 million, its shares trading at Rs. 41.
In the retail market, five companies that mainly contributed to the turnover were, Expolanka Rs. 1.89 billion (24.3 million shares traded), Browns Investments Rs. 688 million (101 million shares traded), Royal Ceramic Rs. 493 million (11.9 million shares traded), Vallibel One Rs. 351 million (5.7 million shares traded) and LOLC Rs. 288 million (597,000 shares traded). During the day 282.3 million share volumes changed hands in 37697 transactions.
https://island.lk/sdr-allocation-reports-put-cse-in-bullish-mode-turnover-exceeds-rs-6-billion/