Construction related counters active for second consecutive day

By Hiran H.Senewiratne

Construction related counters were notably active for the second consecutive day yesterday after President Anura Kumara Dissanayake’s assurance that a considerable amount of funds will be allocated in the forthcoming budget to the sector. This gave some impetus to the sector despite witnessing profit- takings at month end, stock market analysts said.

Amid those developments both indices moved upwards slightly. The All Share Price Index went up by 7.5 points while S and P SL20 rose by 1.59 points. Turnover stood at Rs 5.1 billion with 12 crossings.

Those crossings were reported in HNB, which crossed 400,000 shares to the tune of Rs 140 million and its shares traded at Rs 350, Hemas Holdings one million shares crossed to the tune of Rs 114 million and its shares sold at Rs 114, Commercial Bank 700,000 shares crossed for Rs 103 million; its shares sold at Rs 148, Dialog six million shares crossed to the tune of Rs 68.4 million; its shares traded at Rs 22.8, Central Finance 200,000 shares crossed for Rs 44 million; its shares traded at Rs 220, Ambeon Holdings 850,000 shares crossed to the tune of Rs 28.4 million; its shares traded at Rs 33.50.

Hayleys Fabrics 500,000 shares crossed to the tune of Rs 26.75 million; its shares sold at Rs 53.50, Sampath Bank 200,000 shares crossed for Rs 24.1 million; its shares traded at Rs 120.50, Hayleys 3.5 million shares crossed for Rs 21.3 million; its shares traded at Rs 6.10, Access Engineering 516,000 shares crossed for Rs 20.6 million and its shares fetched Rs 40 and Alumax 1.2 million shares crossed to the tune of Rs 20.1 million; its shares traded at Rs 16.80.

In the retail market, companies that mainly contributed to the turnover were; Access Engineering Rs 999 million (26.3 million shares traded), Hayleys Fabrics Rs 197 million (3.6 million shares traded), Browns Investments Rs 166 million (18.4 million shares traded), Commercial Bank Rs 122 million (825,000 shares traded), Softlogic Rs 114 million (18.2 million shares traded) and JKH Rs 111 million (4.9 million shares traded).During the day 197 million share volumes changed hands in 31000 transactions.

It is said that banking, manufacturing and construction sector counters were active. Access Engineering was one of the highest contributors to the market. JKH was also active as manufacturing sector counters were also active during the day.

Union Assurance and Sampath Bank have entered into a bancassurance partnership for Life Insurance products, the company said.

“Union Assurance PLC entered into a long-term referral bancassurance partnership for Life Insurance products with Sampath Bank PLC (“Bank”), on 30 January 2025, consequent to Board approval,” the insurance provider said, according to CSE sources.

Yesterday, the rupee was quoted at Rs 297.30/40 to the US dollar in the spot market, stronger from Rs 297.70/85 to the US dollar the previous day, dealers said, while bond yields were broadly flat.

Stocks were up 0.29 percent. A bond maturing on 15.12.2026 was quoted at 9.00/10 percent, up from 8.95/9.10 percent. A bond maturing on 01.05.2027 was quoted at 9.50/55 percent. A bond maturing on 15.03.2028 was quoted at 10.09/12 percent. A bond maturing on 01.05.2028 was quoted at 10.15/20 percent. A bond maturing on 15.10.2028 was quoted flat at 10.25/35 percent. A bond maturing on 15.09.2029 was quoted at 10.71/76 percent, up from 10.68/75 percent. A bond maturing on 15.10.2030 was quoted at 11.20/25 percent, up from 11.20/24 percent.