CSE recovers from early setbacks

By Hiran H.Senewiratne

The CSE’s performance was down  during the early part of the day  but latterly grew rather  positive as bargain hunters became active. That enabled the market to be stable and positive yesterday.

Amid those developments index heavy Dipped Products, a subsidiary of Hayleys Group, was able to secure a 10 percent gain despite  some negative news on the Covid 19 vaccine. Its shares started trading at Rs. 330 at the end of the day it moved to Rs. 335, stock market analysts said.

The turnover stood at Rs. 3.07 billion with two crossings. Those were reported in JKH, which crossed 240,000 shares to the tune of Rs. 33.6 million, its share price traded at Rs. 140, and Dipped Products 80,000 shares crossed for Rs. 25.6 million; its share price trading at Rs. 320. During the day, the All Share Price Index went up by 2.04 points and S and P SL20 20. by 95 points.

In the retail market, top five contributors to the turnover were, Dipped Products Rs. 777 million (2.4 million shares traded), Expolanka Rs. 642 million (25.4 million shares traded), Hayleys Group Rs. 180.4 million (478,000 shares traded), JKH Rs. 142.8 million (1.02 million shares traded) and Haycarb Rs. 73.1 million (161,000 shares traded). During the day, 90.2 million share volumes changed hands in 24447 transactions.

Sri Lanka rupee quoted flat at 184.50/60 to the US dollar in the spot market on Wednesday while bond yields remained unchanged in dull market trade, dealers said.

The rupee closed at 184.50/60 to the US dollar on Tuesday.