Buying interest notable among most valued stocks

ByHiran H. Senewiratne

The stock market experienced a degree of volatility yesterday but buying interest was notable among the most valued stocks, stock market analysts said.

Amid those developments both indices moved upwards. The All- Share Price Index went up by 26.7 points while S and P SL20 rose by 6.67 points. Turnover stood at Rs 695 million with one crossing. The crossing was reported in Sampath Bank, which crossed 1 million shares to the tune of Rs 68 million; its shares traded at Rs 68.

In the retail market top seven companies that mainly contributed to the turnover were; HNB Rs 94.2 million (608,000 shares traded), Sampath Bank Rs 62.5 million (918,000 shares traded), JKH Rs 51 million (284,000 shares traded), Dialog Axiata Rs 34.75 million (3.8 million shares traded), Browns Investments Rs 33.7 million (8.1 million shares traded), Expolanka Holdings Rs 31 million (236,000 shares traded) and Lanka IOC Rs 27.3 million (267,000 shares traded). During the day 29.8 million share volumes changed hands in 7000 transactions.

Yesterday the rupee opened at Rs 316.80/90 to the US dollar from Rs 316.90/317.05 the previous day, dealers said.

Bond yields were significantly down. A bond maturing on 01.02.2026 was quoted at 12.45/50 percent from 12.85/95 percent. A bond maturing on 15.03.2028 was quoted at 13.15/25 percent from 13.45/55 percent.