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CSE indices dip as selling pressure comes in the wake of political uncertainties

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By Hiran H.Senewiratne

Although initially there was nothing particularly noteworthy in CSE trading yesterday, later selling pressure built up in the bourse due to lingering uncertainties on the political front, market analysts said.

Consequently, both indices moved downwards. The All Share Price Index went down by 24.2 points while S and P SL20 declined by 16.2 points. Turnover stood at R 798 million with five crossings. Those five crossings were reported in Commercial Bank, where 2.06 million shares crossed to the tune of Rs 197.5 million; its shares traded at Rs 96, Dialog 5 million shares crossed for Rs 45 million; its shares traded at Rs 9, Kelani Tyres 500,000 shares crossed to the tune of Rs 39 million, its shares sold at Rs 78, HNB 150,000 shares crossed for Rs 27.45 million; its shares fetched Rs 183 and JKH 150,000 shares crossed to the tune of Rs 27.3 million; its shares traded at Rs 183 and JKH 150,000 shares crossed for Rs 27.3 million; its shares traded at Rs 182.

It is said that the banking sector performed well due to its crossings. The services sector contributed well next, followed by manufacturing sector counters.

In the retail market top six companies that mainly contributed to the turnover were; Dialog Axiata Rs 83.7 million (9.3 million shares traded), HNB Rs 33 million (180,000 shares traded), Kelani Tyres Rs 24 million (309,000 shares traded), Associated Motor Finance Rs 21 million (869,000 shares traded), Pan Asia Bank Rs 19 million (953,000 shares traded) and Aitken Spence Rs 18.9 million (156,000 shares traded). During the day 42.6 million share volumes changed hands in 5391 transactions.

Yesterday, the rupee opened at 300.90/301.30 to the US dollar, dealers said. Bond yields were stable, they said, and stocks opened up 0.07 percent. The rupee closed at Rs 300.20/60 to the greenback the previous day.

In the secondary market, bonds were broadly stable, dealers said. Of the actively quoted bonds; a bond maturing on 15.12.2026 was quoted stable at 11.00/15 percent. A bond maturing on 15.12.2027 was quoted at 11.89/12.00 percent. A bond maturing on 01.07.2028 was quoted at 12.50/60 percent, down from 12.70/80 percent. A bond maturing on 15.06.2029 was quoted stable at 12.85/95 percent.



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ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

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The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

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USD 40.84m pipeline to secure aviation fuel supplies to BIA

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By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

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CSE activity up, turnover weak at Rs. 1.4 billion

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By Hiran H Senewiratne 

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well.  In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.

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