Bourse on recovery track but turnover yet to pick up

By Hiran H. Senewiratne

The share market showed some indications of picking-up yesterday. The All- Share Price Index went up by 121.5 points while S and P SL20 rose by 43.8 points. Turnover stood at Rs 776 million with one crossing. The crossing was reported in Melstacope, which crossed 250,000 shares the tune of Rs 20.2 million; its shares traded at Rs 81.

In the retail market top seven companies that mainly contributed to the turnover were; Melstacope Rs 74.9 million (924,000 shares traded), HNB Rs 66.3 million (365,000 shares traded), Lanka Milk Foods Rs 39.3million (1.4 million shares traded), Hayley’s Fabrics Rs 38.8 million (784,000 shares traded), Access Engineering Rs 38 million (1.7 million shares traded), CTC Rs 36.7 million (29000 shares traded) and Dialog Axiata Rs 35.5 million (3.9 million shares traded). During the day 30.8 million share volumes changed hands in 9000 transactions.

Yesterday the rupee opened stronger at Rs 299.00/15 to the US dollar dealers said. Bond yields were broadly steady, they said, and stocks opened up 0.54 percent. The rupee closed at Rs 299.15/25 to the greenback on Wednesday.

In the secondary market, Treasury bond yields were steady, dealers said. A bond maturing on 15.12.2026 was quoted at 11.10/20 percent, up from 11.05/30 percent. A bond maturing on 15.12.2027 was quoted at 12.20/25 percent, up from 12.15/25 percent. A bond maturing on 15.12.2028 was quoted at 12.95/13.15 percent. A bond maturing on 15.06.2029 was quoted at 12.95/13.20 percent, down from 13.00/15 percent.