Improved trading in blue-chips lifts CSE fortunes

By Hiran H.Senewiratne

Stock market trading witnessed a degree of negativity early yesterday but during the latter part of the day it evinced some bullish sentiment due to trading improving in blue-chip companies, market analysts said.

Both indices moved upwards. The All Share Price Index went up by 11.2 points and S and P SL20 rose by 5.2 points. Turnover stood at Rs 880 million with three crossings. Those crossings were reported in LB Finance, which crossed 460,000 shares to the tune of Rs 28 million and its shares traded at Rs 61, HNB 165,000 share crossed for Rs 26.4 million; its shares traded at Rs 160 and Melstacope 250,000 shares crossed for Rs 22.25 million; its shares price sold at Rs 89.

In the retail market, top seven companies that mainly contributed to the turnover were; JKH Rs 71.6 million (372,000 shares traded), HNB Rs 62 million (386,000 shares traded), Lanka Milk Foods Rs 60.8 million (2.5 million shares traded),. Royal Ceramic Rs 59.3 million (1.9 million shares traded), Distilleries Rs 38.5 million (1.4 million shares traded), Hayleys Fabrics Rs 34.7 million (857,000 shares traded) and Windforce Rs 28.8 million (1.5 million shares traded). During the day 35.5 million share volumes changed hands in 8000 transactions.

Yesterday the rupee traded at 311.65/75 to the US dollar, from 311.90/95 on Tuesday, dealers said.

Bond yields were slightly up. A bond maturing on 01.08.2026 was quoted at 11.00/20 percent. A bond maturing on 15.09.2027 was quoted at 12.10/20 percent from 11.85/12.10 percent. A bond maturing on 15.03.2028 was quoted at 12.25/40 percent from 12.15/30 percent.