Bourse mired in sluggishness as political uncertainties remain dominant

By Hiran H. Senewiratne

CSE activities were sluggish throughout yesterday due to uncertainties prevailing on the political and economic fronts, market analysts said.

As a result, mixed reactions were noted in both indices. The Al-l Share Price Index went down by 31 points while S and P SL 20 rose by 2.63 points. Turnover stood at Rs 1.44 billion with three crossings. Those crossings were, Hayley Fabrics, where 1.87 million shares crossed to the tune of Rs 78.5 million; its shares traded at Rs 42, TJ Lanka 1.4 million shares crossed for Rs 56.1 million; its shares sold at Rs 39 and JKH 270,000 crossed for Rs 54.5 million; its shares sold at Rs 202.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 243 million (1.2 million shares traded), Hayley Fabrics Rs 86 million (2 million shares traded), HNB Rs 80 million (409,000 shares traded), Resus Rs 60 million (2.6 million shares traded), Browns Investments Rs 37.5 million (5.9 million shares traded), Lanka IOC Rs 36 million (276,000 shares traded) and Chevron Lubricants Rs 35 million (292000 shares traded). During the day 62.6 million share volumes changed hands in 12113 transactions.

It is said that JKH, Hayley Fabrics and TJ Lanka were the main contributors to the turnover.

The rupee opened marginally stronger at Rs 301.75/302.50 to the US dollar from Rs 302.00/40 the previous day, dealers said. Bond yields were up.

A bond maturing on 15.12.2026 was quoted up at 10.10/20 percent from 9.90/10.05 percent. A bond maturing on 15.09.2027 was quoted up at 10.30/50 percent from 10.20/35 percent. A bond maturing on 15.03.2028 was quoted up at 10.70/80 percent from 10.50/65 percent.