CSE investor sentiment affected by fears of reduced income from shares

By Hiran H.Senewiratne

CSE investor sentiment was on the decline yesterday amid expectations among stock investors that their earnings would be reduced compared to those of last year as a result of IMF policy reforms being implemented by the government, stock market sources said.

Shares edged- down in mid- day trade in view of quarterly earnings of investors proving poor. The main All- Share Price Index (ASPI) was down 0.74 per cent or 66.4 points, while the most liquid index S&P SL20 was down 0.65 per cent or 26.3 points.

Turnover stood at Rs 638 million with one crossing. The crossing was reported in Sampath Bank, which crossed 450,000 shares to the tune of Rs 22.5 million; its shares traded at Rs 50.

In the retail market top seven companies that mainly contributed to the turnover were, JKH Rs 112 million (809,000 shares traded), Dialog Rs 54.7 million (5.9 million shares traded), Sampath Bank Rs 34.5 million (690,000 shares traded), Expolanka Holdings Rs 34.1 million (280,000 shares traded), Chevron Lubricants Rs 29.5 million (310,000 shares traded), Softlogic Capital Rs 28 million (2.9 million shares traded) and Lanka IOC Rs 27.1 million (158,000 shares traded). During the day 61.1 million share volumes changed hands in 11000 share transactions.

Yesterday the Central Bank’s US dollar buying rate was Rs 313.33 and selling rate Rs 328.48.