Budget 2025 seen as making no positive impact whatsoever on bourse

By Hiran H.Senewiratne

The annual budget which was presented in parliament yesterday had no positive impact on the stock market since it was more focused on vulnerable sections rather than developmental in orientation, market analysts said.

Amid those developments both indices moved upwards. The All Share Price Index went up by 290.36 points, while the S and P SL20 was up 74. 42 points. Turnover stood at Rs 5.4 billion with nine crossings.

Those crossings were reported in Ceylinco Insurance which crossed 227,000 shares to the tune of Rs 898 million; its shares traded at Rs 3950, LOLC Holdings 232,000 shares crossed for Rs 160 million; its shares traded at Rs 690, Melstacope 575,000 shares crossed for Rs 80.5 million; its shares traded at Rs 140, Commercial Bank 500,000 shares crossed for Rs 75 million and its shares sold at Rs 150, JKH 2.7 million shares crossed for Rs 63.3 million; its shares traded at Rs 22.80, Print Care 595,000 shares crossed for Rs 37.2 million; its shares traded at Rs 52.50, Janashakthi Insurance 350,000 shares crossed for Rs 23.4 million; its shares sold at Rs 67, Hemas Holdings 200,000 shares crossed for Rs 23.4 million; its shares sold at Rs 117 and Central Finance 100,000 shares crossed for Rs 22.4 ; its shares traded at Rs 224.

In the retail market top six companies that mainly contributed to the turnover were; First Capital Holdings Rs 357 million (eight million shares traded), HNB Rs 260 million (782,000 shares traded), Dialog Rs 199 million (14.2 million shares traded), Sampath Bank Rs 175 million (1.4 million shares traded), TJLanka Rs 150.7 million (2.6 million shares traded) and Sierra Cables Rs 149 million (8.4 million shares traded). During the day 132 million share volumes changed hands in 28000 transactions.

It is said that the banking and financial sector was the most active counter during the day’s trading while the manufacturing sector counter was the second biggest contributor to the market.

Yesterday, the rupee was quoted at Rs 295.40/80 to the US dollar in the spot market, broadly flat from Friday’s close of Rs 295.40/70, dealers said, while bond yields were steady.

A bond maturing on 15.12.2026 was quoted at 8.90/9.00 percent, down from 8.95/9.00 percent. A bond maturing on 15.10.2027 was quoted at 9.55/75 percent, down from 9.60/75 percent. A bond maturing on 15.02.2028 was quoted at 10.05/10 percent, down from 10.08/10 percent. A bond maturing on 01.07.2028 was quoted at 10.27/30 percent, up from 10.25/30 percent. A bond maturing on 15.10.2028 was quoted at 10.35/39 percent, down from 10.35/40 percent. A bond maturing on 15.09.2029 was quoted at 10.80/85 percent, up from 10.78/85 percent. A bond maturing on 15.05.2030 was quoted at 11.05/10 percent. A bond maturing on 15.10.2030 was quoted at 11.20/30 percent, up from 11.18/24 percent.