CSE indices decline, despite some companies’ positive quarterly results

By Hiran H.Senewiratne 

CSE activities were slightly negative following the Central Bank announcement last Friday that the country’s foreign reserves have dropped to US 4.3 billion by January 31, despite the positive quarterly results of most companies in the recent past, stock market analysts said.

Amid those developments, both indices moved downwards yesterday. All Share Price Index down by 77.73 points down and S and P SL-20 went down by 13.16 points. However, five companies that are headed by business magnate Dammika Perera announced subdivision of their shares. Those companies are: Royal Ceramic, one share would be subdivided into ten shares and Lanka Wall Tiles, Lanka Tiles and Swisstec will subdivide one share into five shares.

Turnover stood at Rs. 6.01 billion with three crossings. Those crossings were reported in JKH, 1.13 million shares crossed  to the tune of Rs. 204.8 million, its shares traded at Rs. 160, Dialog 4.9 million shares crossed for Rs. 60.6 million, its shares traded at Rs. 12.40 and Sampath Bank 358,000 shares crossed for Rs. 60.2 million, its shares traded at Rs. 168.

In the   retail market, top five contributors to the turnover were; Royal Ceramic Rs. 1.03 billion (2.8 million shares traded), Vallibel One Rs. 908 million (12.4 million shares traded), JKH Rs. 560 million (3.5 million shares traded), LOLC Rs. 55.3 million (1.2 million shares traded) and Expolanka Rs. 403 million (8million shares traded).During the day, 134.5 million share volumes changed in 34335 transactions. 

Sri Lanka rupee was quoted weaker around 194.00/196.00 levels to the US dollar in the spot market on Monday, while bond yields remained unchanged, dealers said. The rupee last closed in one-week forward market at 194.50/195.50 levels on Friday. In the secondary market bond yields remained unchanged on dull market trade, dealers said.