Colombo Stock Exchange records landmark single-day turnover

The Colombo Stock Exchange (CSE) recorded a significant milestone today (27), with its total market turnover reaching Rs. 18.7 billion, one of the highest single-day volumes in recent years.

Driving this surge was a major transaction involving Hatton National Bank PLC (HNB), following the divestment of a 9.99% stake by Browns Investments PLC. The shares were acquired by Ceylon Steel Corporation Ltd, marking a notable entry into the banking sector by the industrial giant.

Capital Alliance Securities (Pvt) Ltd acted as the broker for the buyer, Ceylon Steel Corporation, and also facilitated 60% of the trade on behalf of the seller, Browns Investments PLC.

The deal included the transfer of 45,317,177 ordinary voting shares of HNB at Rs. 305.00 each through a crossing, generating Rs. 13.82 billion in turnover. Additionally, two more crossings involving 319,405 shares at Rs. 320.00 added further value, bringing the total turnover from HNB shares to Rs. 14.42 billion for the day.

HNB was the top positive contributor to the ASPI today. Its share price closed at Rs. 319.50, up Rs. 17.25 or 5.71% compared to the previous day.

The All Share Price Index (ASPI) advanced by 161.39 points to close at 16,667.63, while the S&P SL20 Index gained 77.17 points to end at 4,916.11.