Comments on future governments’ policy trajectories dampen bourse

By Hiran H.Senewiratne

CSE trading was dull yesterday following remarks by Central Bank Governor Dr. Nandalal Weerasinghe to the effect that any future government too has to align itself with the IMF agreement, if not it would amount to a breach of agreements with external and internal creditors, inclusive of the IMF.

Amid those developments both indices moved downwards. The All Share Price Index went down by 60.5 points while the S and P SL20 declined by 24.64 points. Turnover touched below the average level of Rs 566 million without any crossings.

In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 43.9 million (317,000 shares traded), Kotagala Plantations Rs 41 million (6.8 million shares traded), Sampath Bank Rs 36.8 million (157,000 shares traded), JKH Rs 29.8 million (157,000 shares traded), Commercial Bank Rs 27.2 million (290,000 shares traded), Kelani Tyres Rs 23.2 million (387,000 shares traded) and Hayley’s Fabrics Rs 21.1 million (524,000 shares traded). During the day 36.8 million share volumes changed hands in 7500 transactions.

Yesterday the rupee opened at Rs 326.85/95 to the US dollar, from 326.80/327.00 the previous day, dealers said.

Bond yields were steady. A bond maturing on 01.08.2026 was quoted stable at 13.70/80 percent. A bond maturing on 15.01.2027 was quoted at 13.80/90 percent from 13.70/80 percent. A bond maturing on 15.12.2028 was quoted at 14.00/14.05 percent.