The CSE bounced back yesterday because investor sentiment had improved as a result of macroeconomic fundamentals proving conducive to business, market analysts said.
The stock market closed up after some volatility but both indices moved upwards. The All Share Price Index moved up by 37.8 points, while the S&P SL20 closed up 0.39 percent, or 23.50 points, at 6,066, provisional data showed.
Turnover was Rs 5.14 million with 13 crossings. The top seven crossings were reported in Singer (SL), where 1.3 million shares crossed to the tune of Rs 85.8 million; its shares traded at Rs 60, Amana Takaful 2.8 million shares crossed for Rs 70.1 million; its shares traded at Rs 24.50, E B Creasy one million shares crossed for Rs 62 million; its shares sold at Rs 62, Access Engineering 1.1 million shares crossed for Rs 61.8 million; its shares traded at Rs 67, Tokyo Cement (Non- Voting) 750,000 shares crossed for Rs 58.1 million; its shares sold at Rs 77.50, Colombo Dockyards 400,000 shares crossed for Rs 41.4 million; its shares traded at Rs 103.50 and TJ Lanka 930,000 shares crossed for Rs 40.9 million; its shares sold at Rs 44.
In the retail market companies that mainly contributed to the turnover were; Sierra Cables Rs 336 million (15.1 million shares traded), HNB (Voting) Rs 310 million (6.1 million shares traded), TJ Lanka Rs 300 million (6.1 million shares traded), Sampath Bank Rs 299 million (two million shares traded), Access Engineering Rs 185 million (3.2 million shares traded) and LOLC Holdings Rs 168 million (305,000 shares traded).During the day 162 million share volumes changed hands in 32000 transactions.
It is said that top contributors to the ASPI were DFCC Bank, Sampath Bank, Dialog Axiata, Commercial Bank and HNB. Further, manufacturing sector counters, especially Sierra Cables and TJ Lanka performed well. Apart from that the banking sector also actively participated at the floor, especially HNB.
Yesterday, the rupee opened at Rs 302.23/40 to the US dollar in the spot market, weaker from Rs 302.25/35 the previous day, while bond yields edged up, dealers said.
A bond maturing on 15.09.2027 was quoted at 8.58/63 percent, up from 8.55/60 percent.
A bond maturing on 15.12.2028 was quoted flat at 8.95/9.00 percent.
A bond maturing on 15.12.2029 was quoted flat at 9.43/46 percent.
A bond maturing on 15.12.2032 was quoted at 10.27/33 percent, up from 10.25/32 percent.
By Hiran H Senewiratne
