DFCC crossing boosts CSE turnover

Bourse: Two major crossings of Dialog and DFCC shares helped the market turnover yesterday and the two indices also moved up by considerable margins. Six hundres thousand DFCC shares were traded at Rs. 220 yesterday to the value of Rs. 132 million contributing to about one third of yesterday's turnover which was recorded at Rs. 422 million.

The deal is believed to be a foreign to foreign crossing. The All Share Price Index moved up by 20.13 points to close at 2,181.53 points while the Milanka Price Index improved by 33.25 points to close at 2,768.34. Yesterday's trade volume was 11,858,615.

Meanwhile, another crossing speculated to be sold by a local investor to a foreign party saw one million Dialog shares being traded at Rs.18.75. Another highlight at yesterday's trading was the share price of Ceylinco Insurance which went over Rs. 100 mark which had been below that mark for several years.

Plantation sector stocks also saw an improvement as investors were confident with some companies' healthy annual performance and the improving tea and rubber prices. Analysts said the market is expect to improve further with the approach of Geneva peace talks.

(CK)