Stock investors in anxious wait over outcome of IMF’s fourth tranche review

By Hiran H.Senewiratne

CSE activities were bearish throughout yesterday because local and foreign investors are in an anxious wait over the outcome of the IMF’s fourth tranche review on the Sri Lankan economy, market analysts said.

Amid those developments both indices moved downwards. The All Share Price Index went down by 270 points while S and P SL20 declined by 73.1 points. Turnover stood at Rs 2.1 billion with two crossings.

Those crossings were reported in Sampath Bank, which crossed 1 million shares to the tune of Rs 122 million and its shares traded at Rs 122 and First Capital Holdings 781,000 shares crossed for Rs 25.9 million; its shares traded at Rs 46.

In the retail market top seven companies that mainly contributed to the turnover were; HNB Rs 254 million (770,000 shares traded), Aitken Spence Hotels Rs 187 million (2.2 million shares traded), Sampath Bank Rs 128 million (1.1 million shares traded), Browns Investments Rs 114 million (14.2 million shares traded), JKH Rs 96.9 million (4.3 million shares traded), First Capital Rs 74 million (1.6 million shares traded) and Hemas Holdings Rs 51.7 million (425,000 shares traded). During the day 73.1 million share volumes changed hands in 18000 transactions.

Yesterday, the rupee was quoted flat at Rs 295.65/90 to the US dollar in the spot market, dealers said, while bond yields were slightly up.

It is said that the banking and financial sector was the top contributor to the turnover, while a bond maturing on 15.03.2028 was quoted at 10.01/05 percent, up from 10.00/05 percent. A bond maturing on 01.07.2028 was quoted at 10.20/28 percent. A bond maturing on 15.10.2028 was quoted at 10.30/40 percent. A bond maturing on 15.06.2029 was quoted at 10.74/77 percent. A bond maturing on 15.10.2030 was quoted at 11.13/18 percent, up from 11.13/17 percent.