CSE recalled to buoyancy as IMF-linked positive news emerges

By Hiran H.Senewiratne

The stock market was positive throughout yesterday after experiencing a dip over the last two days. The main reason for the revival was the news that the IMF was positive about releasing the second tranche of funds soon, market analysts said.

Amid those developments both indices moved upwards. The All- Share Price Index went up by 108.6 points and Sand P SL20 rose by 38.7 points. Turnover stood at Rs 1.14 billion with one crossing. The crossing was report in Kingsbury Hotel, which crossed 2 million shares to the tune of Rs 24 million; its shares fetched Rs 12.

In the retail market top seven companies that mainly contributed to the turnover were; Hayleys Fabrics Rs 99 million (two million shares traded), Tokyo Cement Rs 56 million (992,000 shares traded), Ceylon Distilleries Rs 51.2 million (1.8 million shares traded), Capital Alliance Rs 43.5 million (528,000 shares traded), Lanka IOC Rs 43.2 million (362,000 shares traded), Galadari Hotel Rs 37.4 million (1.9 million shares traded) and Dipped Products Rs 36.3 million (1.1 million shares traded). During the day 42.9 million share volumes changed hands in 15000 transactions.

Yesterday, the rupee opened at Rs 321.75/322.00 to the US dollar, from Thursday’s close at Rs 322.40/50 to the US dollar, dealers said. Bond yields were stable.

A bond maturing on 01.08.2026 was quoted at 15.60/16.00 percent yesterday, stable from closing at 15.60/95 percent on the previous day. A bond maturing on 01.05.2028 closed at 14.70/15.00 percent, stable from 14.70/95 percent a day earlier.