CSE indices dip; selling pressure rises

By Hiran H.Senewiratne

CSE stocks fell  shortly after opening and bonds yields were steady yesterday  after several parts of Colombo were put under coronavirus curfews as health officials hunted Covid-19 contacts, dealers and brokers said.

During the morning session CSE activities were marginally down but later they witnessed a slight recovery but that recovery did not last long due to selling pressure on many investors in the wake of an increase in the number of infected persons in the country, stock market analysts said  

Both indices pointed downwards. The All Share Price Index was down by 99.61 points and the S and P SL20 declined by 39.54 points. The turnover stood at Rs. 1.01 billion with a single crossing. The crossing was reported from TJ Lanka, which crossed 1.65 million shares to the tune of Rs. 48.7 million and its shares traded at Rs. 29.60.

In the retail market top five contributing companies to the turnover were, Expolanka Rs. 183.9 million (9.5 million shares traded), Tokyo Cement (Non Voting) Rs. 82.5 million (1.71 million shares traded), Dip Products Rs. 46.9 million (154,000 shares traded), Tokyo Cement (Voting) Rs. 36 million (629,000 shares traded), JKH Rs. 53.2 million (257,000 shares traded). During the day 70.6 million share volumes changed hands in 16187 transactions. Further, due to low investor participation only 24 companies showed some stock appreciation and 162  companies’ share prices moved downwards.

The spot rupee was quoted at 184.30/35 to the US dollar in mid-morning trade Monday, from Friday’s closing of Rs. 184.20/3.A 2-year bond maturing on 15.12.2022 was quoted at 5.50/60 per cent on Monday, from 5.55/60 per cent Friday’s closing.

A bond maturing on 15.01.2023 was quoted at 5.55/62 per cent from 5.58/68 percent.