CBSL comments on foreign reserves positively impact bourse

By Hiran H.Senewiratne

The market started on a dull note yesterday but later indicated some recovery following the Central Bank announcement that last month’s foreign reserves touched more than US 5.4 billion, which was a 9.6 percent increase compared to the month of March, which amounted to US 4 4.9 billion.

Amid those developments both indices reported mixed reactions. All Share Price Index gained by 10.41 points while S and P SL20 declined by 0.67 points. Turnover stood at Rs 2 billion with five crossings.

Those crossings were reported in Royal Ceramic, which crossed 800,000 shares to the tune of Rs 28 million and its share price traded at Rs 35, NDB 314,000 shares crossed for Rs 24.5 million; its shares traded at Rs 78, Melstacope 250,000 shares crossed for Rs 23.1 million; its shares traded at Rs 92.50, CTC 16000 shares crossed to the tune of Rs 20.8 million and its shares traded at Rs 1300 and Sunshine Holdings 350,000 shares crossed for Rs 20.1 million; its shares traded at Rs 54.10.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 248 million (1.2 million shares traded), Browns Investments Rs 106 million (15.8 million shares traded), Sunshine Holdings Rs 105.2 million (1.6 million shares traded), Royal Ceramic Rs 96.3 million (2.7 million shares traded), Hayleys Fabrics Rs 75.2 million (1.7 million shares traded), TJ Lanka Rs 46.6 million (1.2 million shares traded), and Distilleries Rs 45 million 91.5 million shares traded). During the day 118 million share volume changed hands in 18700 transactions

Yesterday the rupee opened at Rs 299.50/300.50 to the US dollar from Rs 298.00/50 the previous day, dealers said.

Bond yields were broadly steady, dealers said. A bond maturing on 15.12.2026 was quoted at 10.65/70 percent from 10.60/70 percent. A bond maturing on 15.09.2027 was quoted stable at 11.00/10 percent. A bond maturing on 15.03.2028 was quoted down at 11.40/45 percent from 11.40/50 percent. A bond maturing on 15.05.2030 closed stable at 12.10/20 percent. A bond maturing on 01.10.2032 closed down at 12.25/35 percent from 12.20/35 percent.