Buying interest notable in blue chip counters; CSE turnover hits Rs. 1 billion

By Hiran H.Senewiratne

The stock market started on a negative sentiment yesterday but subsequently turned positive and ended on a slightly negative stance, market analysts said.

Amid those developments turnover touched more than Rs 1 billion and buying interest was noted for blue chip counters, analysts said.

The All Share Price Index went down by 2.58 points and S and P SL20 declined by 11.48 points. Turnover stood at Rs 1.1 billion with two crossings. Those crossings were reported in Citizens Development Business Finance, which crossed 446,000 shares to the tune of Rs 89. 3 million; its shares traded at Rs 200 and HNB 300,000 shares crossed for Rs 46.5 million; its shares traded at Rs 155.

In the retail market top seven companies that mainly contributed to the turnover were; Sampath Bank Rs 198 million (2.9 million shares traded), Dialog Axiata Rs 158 million (17.5 million shares traded), Lanka IOC Rs 89.8 million (884,000 shares traded), HNB Rs 52.1 million (336,000 shares traded), Expolanka Holdings Rs 51 million (382,000 shares traded), Aitken Spence Rs 39.4 million (343,000 shares traded) and Laugfs Gas Rs 19.9 million (538,000 shares traded). During the day 45.9 million share volumes changed hands in 8000 transactions.

Yesterday the rupee opened at Rs 317.50 to the US dollar from Rs 317.75 the previous day.

The Central Bank has been running a broadly deflationary policy, allowing the rupee to appreciate and the Central Bank to buy dollars.