Buying interest in primary dealer stocks amid dull trading

By Hiran H Senewiratne

CSE trading was dull yesterday but buying interest was witnessed in primary dealer stocks due to the decline in interest rates, market analysts said.

“Investors are seeing some selling pressures through built up confidence as policy rates came down, an analyst said. But both indices showed a downward trend, he added.

The main All- Share Price Index was down 0.29 percent or 24.391 points to 8.7009, while the S&P SL20 was down 0.43 percent or 9.9 points.

Turnover stood at Rs 554 million with two crossings. Those crossings were reported in Sampath Bank, which crossed 2.2 million shares to the tune of Rs 106 million, its shares traded at Rs 48 and Lion Brewery 30000 shares crossed for Rs 21 million; its shares traded at Rs 700.

In the retail market top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs 49.7 million (380,000 shares traded), Capital Alliance Rs 44.4 million (1.3 million shares traded), Hayleys Rs 32.8 million (475,000 shares traded), First Capital Rs 25.7 million (745,000 shares traded), Chevron Lubricants Rs 25.5 million (292,000 shares traded), First Capital Treasuries Rs 21.7 million (871,000 shares traded) and Lanka IOC Rs 19.9 million (149,000 shares traded). During the day 19.8 million shares volumes changed hands in 8000 transactions.

Yesterday bonds were down at open and the Spot US dollar opened at Rs 291.50/292.50 ahead of a T-bill auction, dealers said. The Spot US dollar closed at Rs 291.50/292.50 on the previous day.

A bond maturing on 15.09.2027 was quoted at 23.90/24.10 percent, down from 24.00/10 percent a day earlier, dealers said. A bond maturing on 15.05.2026 was quoted at 24.15/25.30 percent down from 25.00/50 percent a day earlier.