CSE fails to sustain early momentum; mixed signals from indices

By Hiran H.Senewiratne

The CSE kicked off on a positive note yesterday but its momentum could not be sustained for long and the bourse ended up with mixed reactions in both indices, market analysts said.Business sentiment improved slightly when the Sri Lankan government and the Exim Bank of China agreed on key principles to restructure the US $ 4.2 billion loan, Sri Lanka’s Finance Ministry sources said.

The All Share Price Index went down by 5.38 points and S and P SL-20 rose by 6.78 points.Turnover stood at Rs 826 million with one crossing.The crossing was reported in LB Finance, which crossed 1 million shares to the tune of Rs 63.1 million; its shares traded at Rs 63.10.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 170 million (885,000 shares traded), First Capital Holding Rs 81.6 million (1.5 million shares traded), First Capital Treasuries Rs 66 million (1.5 million shares traded), Asian Capital and Properties Rs 41 million (691,000 shares traded), Çapital Alliance Rs 35.4 million (541,000 shares traded) and NTB Rs 22.9 million (222,000 shares traded). During the day 39 million shares volumes changed hands in 9000 transactions.Yesterday, the US dollar buying rate was Rs 318.08 and the selling rate Rs Rs 328.82.