Slight recovery at CSE

By Hiran H.Senewiratne 

The CSE recovered slightly yesterday after dropping for the fourth straight session until Wednesday, hovering near a 5-1/2-year low, as investors sold blue- chips amid concerns over economic and political stability, market analysts said.

It is said that the four consecutive day drop actually wiped out 140 points in the All Share Price Index but its sustainability depends on the economic and political front of the country. Amid those developments both indices moved upwards, ie, the All Share Price Index by 25.83 points and S and P SL20 by 22.53.

The day's turnover stood at Rs. 677.7 million with two crossings. Those were from the National Trust Bank and Distilleries.

Nation Trust Bank's 2.4 million shares crossed for Rs. 215 million, per share value Rs. 90 and Distilleries 7.1 million shares crossed for Rs. 103 million, per share value Rs. 14.50. In the retail market, companies that mainly contributed to the day's turnover were; JKH Rs. 127.5 million (839,000 shares traded), Hemas Holdings Rs. 85.6 million (1.1 million shares traded), Nation Trust Bank Rs. 60.7 million (674,000 shares traded), Sampath Bank Rs. 11.2 million  (59,000 shares traded) and Commercial Bank Rs. 8.6 million (87000 shares traded). During the day 17.7 million share volume changed hands in 2785 transactions.The CSE index fell 0.71 percent to 5,606.96, its lowest close since Sept. 9, 2013. The benchmark stock index had fallen 1.63 percent last week, recording its third straight weekly fall. It declined 2.9 percent in February, its second straight monthly fall. The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. Foreign investors bought a net Rs.  636.3 million worth of government securities in the week ended March 6, the first net inflow in three weeks, but they have sold a net Rs. 2.8 billion so far this year, the Central Bank’s latest data showed.

Meanwhile, JKSB adds -             .

ASPI: 5,632.79 (+25.83 pts; +0.46%); Val T/O: Rs. 678mn (US$3.79mn); Vol T/O: 17.7mn; Trades: 2,785

Advance/decline ratio: 113/58; Top gainer: MULL.N (+16.67%) ; Top loser: TESS.X (-20.00%)


*The ASPI ended higher today amid improved market turnover. NTB, JKH, and DIST led activity levels including crossings with trading in NTB accounting for 41% of total turnover.

*Banks, Finance, & Insurance was the most actively traded sector (+0.93%)

*Telecommunications was the best performing sector (+2.36%), supported by gains on SLTL.N (+7.73%)

*Services was the worst performing sector (-0.15%), dragged down by declines on MSL.N (-6.89%)

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