Hayleys and Lanka IOC stocks revive negatively-prone share market

By Hiran H. Senewiratne

The stock market kicked off on a negative note yesterday but during the latter part of the day turned positive driven by Hayleys and Lanka IOC stocks, market analysts said.The confirmation of the IMF’s second tranche to Sri Lanka created some positive sentiment among local and foreign investors, market analysts said.

Amid those developments both indices moved upwards. The All- Share Price Index went up by 97.4 points and S and P SL20 rose by 51.3 points. Turnover stood at Rs 1.8 billion with six crossings. Those çrossings were reported in HNB , where 390,000 shares crossed to the tune of Rs 65.5 million and its shares traded at Rs 167, HNB (Non- Voting) 250,000 shares çrossed for Rs 35 million; its shares traded at Rs 140, Sampath Bank 500,000 shares crossed for Rs 35 million and its shares sold at Rs 70, Keells Hotels 1 million shares crossed to the tune of Rs 25 million and its shares traded at Rs 23, Hayleys Leisure 1 million shares crossed for Rs 25 million; its shares traded at Rs 25 and Melstacope 260000 shares crossed for Rs 20 million; its shares fetched Rs 78.50.

In the retail market top five companies that mainly contributed to the turnover were; Hayley’s Rs 310 million (3.3 million shares traded), HNB Rs 161.7 million (961,000 shares traded), Lanka IOC Rs 111 million (922,000 shares traded), Çapital Alliance Rs 79.2 million (975,000 shares traded) and DFCC Rs 63 million (725,000 shares traded). During the day 52.7 million share volumes changed hands in 17000.Yesterday, the US dollar buying rate was Rs 314.19 and selling rate Rs 325.86.