Investor puzzlement over local economy’s future trajectory slows share market

By Hiran H.Senewiratne

The CSE kicked off on a positive note yesterday, continuing last week’s promising scenario. Later the momentum slowed as local and foreign investors became concerned about the local economic and political fronts, which are yet to configure a positive growth trajectory, market analysts said.

Amid those developments the market showed mixed reactions. The All Share Price Index went down by 11.1 points, while the S and P SL20 rose by 1.7 points. Turnover stood at Rs 1.9 billion with seven crossings.

Those crossings were reported in HNB, which crossed 867,000 shares to the tune of Rs 279 million and its shares traded at Rs 319, CIC Holdings 1.5 million share volumes changed hands for Rs 180 million, its shares traded at Rs 120, Commercial Bank 800,000 shares crossed for Rs 117 million; its shares traded at Rs 147, Melstacope 300,000 shares crossed for Rs 38.1 million; its shares sold at Rs 127 million, Commercial Bank (Non- Voting), 206,000 shares crossed for Rs 25.6 million; its shares traded at Rs 124.5, Overseas Reality 975,000 shares crossed to the tune of Rs 22.9 million; its shares traded at Rs 23.5 and JKH 1 million shares crossed for Rs 20 million; its shares sold at Rs 20.

In the retail market top six companies that mainly contributed to the turnover were; Commercial Bank Rs 89.2 million (608,000 shares traded), Sampath Bank Rs 84.7 million (603,000 shares traded), Chevron Lubricants Rs 74.9 million (544,000 shares traded), HNB Rs 59.4 million (186,000 shares traded), Capital Alliance Rs 47.4 million (861,000 shares traded) and NDB Rs 35.5 million (324,000 shares traded). During the day 35.6 million share volumes changed hands in 13000 transactions.

It is said that the banking sector led the market especially with HNB; manufacturing sector was the second largest contributor to the market, especially with CIC and JKH.

Nations Trust Bank said it has listed 4,038,393 new ordinary voting shares and 398,842 ordinary non-voting shares after a scrip dividend.

“Please note that 4,038,393 ordinary voting shares and 398,842 ordinary non-voting shares of the Bank have been listed with effect from 24th March 2025, the bank said in a CSE filing. Ordinary voting shares were listed at a proportion of 1 to 69.774255848947.Ordinary non-voting shares were listed at a proportion of 1 to 110.8366952.Voting stock was trading flat at Rs 193.25 and non-voting stock was down at Rs 287.00 on Monday.

Yesterday, the rupee was quoted at Rs 296.50/90 to the US dollar in the spot market, weaker from Rs 296.60/80 last Friday, dealers said, while bond yields opened lower.

A bond maturing on 15.05.2026 was quoted at 8.30/40 percent. A bond maturing on 01.05.2027 was quoted at 9.00/10 percent. A bond maturing on 15.09.2027 was quoted flat at 9.25/35 percent. A bond maturing on 15.10.2028 was quoted at 9.75/85 percent, up from 9.75/83 percent. A bond maturing on 15.06.2029 was quoted at 9.95/10.00 percent. A bond maturing on 15.10.2030 was quoted at 10.05/15 percent, down from 10.05/17 percent. A bond maturing on 15.12.2032 was quoted at 10.40/60 percent, up from 10.35/50 percent.