Anticipated December quarter corporate gains boost bourse

By Hiran H.Senewiratne

The stock market was buoyant yesterday on account of local and foreign investors being optimistic over December quarterly corporate results/earnings going to be attractive combined with satisfactory dividend payment, stock market analysts said.

The All Share Price Index went up by 96.23 points, while S and P SL20 rose by 51.6 points. Turnover stood at Rs 872 million with one crossing. The crossing was reported in Hela Apparel, which crossed 5 million shares to the tune of Rs 25 million; its shares traded at Rs 5.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 116 million (646,000 shares traded), Sampath Bank Rs 80.8 million (1.1 million shares traded), Lanka Milk Foods Rs 71.8 million (3 million shares traded), Commercial Bank Rs 42.6 million (485,000 shares traded), Expolanka Holdings Rs 36.6 million (280,000 shares traded), Royal Ceramic Rs 29.3 million (1 million shares traded) and HNB Rs 26.7 million (166,000 shares traded). During the day 42.2 million share volumes changed hands in 10500 transactions.

Yesterday the rupee traded at Rs 313.00/40 to the US dollar, from Rs 312.40/80 on Monday, dealers said.

Bond yields were down. A bond maturing on 01.02.2026 was quoted at 11.70/80, down from 11.80/95 percent Monday. A bond maturing on 15.09.2027 was quoted at 12.35/45 from 12.35/55 percent. A bond maturing on 15.03.2028 was quoted at 12.60/65 from 12.55/65 percent. A bond maturing on 15.05.2030 was quoted stable at 13.00/15 percent.