CSE positive; buying interest notable in manufacturing sector counters

By Hiran H.Senewiratne

Throughout yesterday the CSE recorded a positive performance and witnessed buying interest, especially in manufacturing sector counters. The main reason for the market to be positive was the Department of Census and Statistics recent data that indicated that during the first quarter of the year the government was able to achieve an economic growth of 4.3 percent, while during the corresponding period last year the government recorded a 1.2 percent contraction, stock market analysts said.

Besides, the fact that under the Covid 19 vaccination programme over four million persons have been vaccinated so far also made the stock market to perform in a positive manner, market analysts said. Amid those developments both indices moved upwards. All Share Price Index went up by 41.8 points and S and P SL-20 rose by 14.8 points.

Turnover stood at Rs. 2.28 billion with five crossings. Those crossings reported in People’s Leasing and Finance where 18.2 million shares crossed for Rs. 233 million, its shares traded at Rs. 12.80, HNB (Voting) 795,000 shares crossed for Rs. 104.8 million, its shares traded at Rs. 131.75, Alumex five million shares crossed for Rs. 67.5 million, its shares traded at Rs. 13.50, CT Holdings 343,000 shares crossed for Rs 62.5 million, its shares fetched Rs 182 and Aitken Spence 783,000 shares crossed for Rs. 44.6 million, its shares trading at Rs. 57.

In the retail market top five companies that mainly contributed to the turnover were, Expo Lanka Rs. 358 million (6.8 million shares traded), Hayleys Fabrics Rs. 170 million (7.9 million shares traded), CTC Rs. 107.3 million (499,000 shares traded), JKH Rs. 67.4 million (499,000 shares traded) and Tokyo Cement (Non Voting) Rs. 57.9 million (one million shares traded).

Meanwhile, Sri Lanka has raised the ceiling rate for 12-month treasuries by 02 basis points to 5.25 percent, for this week’s treasuries auction where 56 billion rupees of bills will be offered. The ceiling policy rate has operated as a de facto policy rate through which large volumes of debt are monetized when the Central Bank purchases bills with printed money to defend a pattern of treasuries yields, leading to a failure of the auction, despite there being demand at a higher rate, market sources said. During the day 120.8 million share volumes changed hands in 19461 transactions.