By Hiran H. Senewiratne
The CSE witnessed some significant bounce yesterday after experiencing several days of decline in anticipation of the Central Bank reducing policy interest rates, market analysts said.
Amid those developments both indices moved upwards. The All- Share Price Index went up by 115 points and S and P SL20 rose 49.16 points. Turnover stood at Rs 2.9 billion with three crossings. Those crossings were reported in CIC, which crossed 920 million shares to the tune of Rs 57.6 million and its shares traded at Rs 73.50, Distilleries 2.2 million shares crossed for Rs 56.4 million; its shares traded at Rs 25.50 and Melstacope 400,000 shares crossed for Rs. 21.6 million; its shares sold at Rs 79.
In the retail market tops seven companies that mainly contributed to the turnover were; Capital Alliance Rs 290 million (3.3 million shares traded), Distilleries Rs 215 million (8.5 million shares traded), Lanka IOC Rs 182 million (1.6 million shares traded), Commercial Bank Rs 155 million (1.7 million shares traded), Hayleys Fabrics Rs 142 million (3.1 million shares traded), First Capital Holdings Rs 102 million (1.8 million shares traded) and Ceylon Grain Elevators Rs 95.2 million (670,000 shares traded). During the day 102 million share volumes changed hands in 28000 transactions.
It is said high net worth and institutional investor participation was noted in Windforce, Lankem Developments and Melstacorp. Mixed interest was observed in Capital Alliance, Hayleys Fabric and First Capital, while retail interest was noted in Hela Apparel Holdings, Amana Bank and SMB Leasing nonvoting.
The Diversified Financials sector was the top contributor to the market turnover (due to Capital Alliance and First Capital Holdings), while the sector index lost 0.30 percent. The share price of Capital Alliance gained Rs. 11.90 to reach Rs. 89.40. The share price of First Capital Holdings recorded a gain of Rs. 4.20 to reach Rs. 59.
The Utilities sector was the second highest contributor to the market turnover (due to Windforce), while the sector index increased by 0.93 percent. The share price of Windforce increased by 20 cents to reach Rs. 19.10.
Yesterday the rupee opened at Rs 323.80/324.20 to the US dollar, after closing on Tuesday at Rs 323.80/324.25 to the US dollar, dealers said.
A bond maturing on 01.07.2025 was quoted down at 12.50/95 percent on Tuesday after closing at 12.95/13.05 percent on Monday. A bond maturing on 15.05.2026 was quoted down at 12.90/13.20 percent after closing at 12.95/13.05 percent on Monday.
A bond maturing on 15.09.2027 was quoted down at 12.90/13.10 percent after closing at 12.95/13.05 percent. A bond maturing on 01.05.2028 was quoted down at 12.75/13.00 percent after closing at 12.80/13.05 percent. A bond maturing on 15.05.2030 was quoted down at 12.50/13.00 percent from 12.65/13.00 percent.