By Hiram .H Senewiratne
CSE trading started on a positive note in the morning session yesterday but in the second session profit- takings were noted even with the Central Bank announcing an interest rate decline, market analysts said.
The rate cut assurance by the Central Bank gave an impetus to the market but investors are still concerned about the domestic restructuring issue. Accordingly, investor sentiment had not picked up to a significant level, analysts added.
However, both indices moved up. The All- Share Price Index was up by 75.6 points and S and P SL 20 rose by 28.9 points. Turnover stood at Rs 738 million with two crossings.
Those crossings were reported in JKH, which crossed 1.2 million shares to the tune of Rs 165.7 million and its shares traded at Rs 138.50 and HNB 268,000 shares crossed for Rs 32.2 million; its shares traded at Rs 120.
In the retail market top seven companies that mainly contributed to the turnover were; LOLC Finance Rs 62.7 million (12.1 million shares traded), Browns Investments Rs 45 million (8.6 million shares traded), HNB Rs 41 million (342,000 shares traded), Lanka IOC Rs 39 million (290,000 shares traded) Hayley Rs 29 million (415,000 shares traded), Softlogic Rs 24.2 million (2.9 million shares traded) and JKH Rs 18.8 million (136,000 shares traded). During the day, 43.3 million share volumes changed hands in 10031 transactions.
Yesterday the Central Bank announced the US dollar buying rate as Rs 287.42 and the selling rate as Rs 300.32.