CSE in positive mode, low investor participation in market notwithstanding

By Hiran H Senewiratne

The stock market yesterday remained positive despite seeing low level investor participation and below average turnover as investors continued to be concerned over IMF review projections that are to be released in the near future, market analysts said.

Amid those developments both indices moved upwards. The All Share Price Index went up by 76.79 points while the S and P SL20 rose by 42.2 points.

Turnover stood at Rs 1.7 billion with two crossings. Those crossings were reported in Commercial Bank, which crossed 650,000 shares to the tune of Rs 95.5 million and Sampath Bank 500,000 shares crossed to the tune of Rs 61 million; its shares traded at Rs 122.

In the retail market top six companies that mainly contributed to the turnover were; Sampath Bank Rs 214 million (1.9 million shares traded), HNB Rs 168 million (521,000 shares traded), Hemas Holdings Rs 76.7 million (650,000 shares traded), JKH Rs 75.6 million (3.5 million shares traded), Dialog Rs 64.1 million (447,000 shares traded) and HNTB Rs 69.9 million (316,000 shares traded). During the day 58.89 million shares volumes changed hands in 12000 transactions.

It is said that the banking sector was the main contributor to the turnover, especially Sampath Bank, while the manufacturing sector was the second largest contributor to the turnover.

Yesterday, Sri Lanka’s rupee was quoted at Rs 295.40/50 to the US dollar in the spot market, from Rs 295.40/70 Thursday, dealers said, while bond yields were slightly up.

A bond maturing on 15.03.2028 was quoted at 10.02/08 percent.

A bond maturing on 01.07.2028 was quoted at 10.20/25 percent.

A bond maturing on 15.10.2028 was quoted at 10.32/37 percent.

A bond maturing on 15.09.2029 was quoted at 10.70/75 percent.