CSE investors in suspenseful wait over next IMF tranche as indices dip

By Hiran H. Senewiratne

Stock market investors are adopting a cautious stance due to a delay in extending the next IMF tranche, which was scheduled to be transferred before end November.

An IMF delegation was in Sri Lanka to review the whole process and local investors are waiting for their comments on the Sri Lankan economy.

Amid those developments profit- takings were noted after the CSE showed a positive market performance over previous days.

Yesterday the All Share Price Index went down by 104.8 points while S and P SL20 declined by 49.96 points.

Turnover, stood at Rs 6 billion with six crossings. Those crossings were reported in JKH, which crossed 95.9 million shares to the tune of Rs 1.97 billion; its shares traded at Rs 22.50, Meltacope 2.5 million shares crossed for Rs 276 million and its shares traded at Rs 109, HNB 276,000 shares crossed for Rs 64.2 million; its shares sold at Rs. 230, Sampath Bank 500,000 shares crossed to the tune of Rs 47.5 million; its shares traded at Rs 95, Hemas Holdings 300,000 shares crossed for Rs 25.5 million and its shares traded at Rs 85 and LB Finance 250,000 shares crossed for Rs 20 million; its shares traded at Rs 80.

In the retail market six performing companies that contributed to the turnover were; JKH Rs 1.1 billion (53.6 million shares traded), HNB Rs 199.7 (859,000 million shares traded), Sampath Bank Rs 178 million (1.8 million shares traded), Meltacope Rs146 million (1.3 million shares traded), Commercial Bank Rs 85.1 million (960,000 shares traded) and NTB Rs 79.9 million (530,000 shares traded). During the day 259 million shares volumes changed hands in 22380 transactions.

It is said that the manufacturing sector was the biggest contributor to the turnover, especially because JKH contributed more than Rs 2 billion. Second largest contributor was the banking sector, especially HNB and Sampath Bank.

Yesterday, the rupee opened stronger at Rs 291.05/20 to the US dollar from Rs 291.35/45 to the US dollar on the previous say, dealers said, while bond yields were up.

A bond maturing on 15.12.2026 was quoted at 10.30/40 percent, up from 10.25/35 percent.

A bond maturing on 15.12.2027 was quoted at 10.85/11.00 percent, up from 10.75/90 percent.

A bond maturing on 15.02.2028 was quoted at 11.10/20 percent.