Decline in T-Bill rate stimulates share market in positive direction

By Hiran H.Senewiratne

CSE trading behaviour was positive throughout yesterday due to a decline in the Treasury Bill rate. This created some positive sentiment among investors, stock market analysts said. Sri Lanka’s shares edged- up in mid- day and continued in that vein until the end of the session, market analysts added.

“Further, the market is volatile, moving from green to red the previous day, due to freight costs, which are making the market fluctuate because of Expolanka, an analyst said.

Amid those developments both indices moved upwards. The All- Share Price Index went up by 45.3 points and S and P SL20 rose by 16.1 points. Turnover stood at Rs 853 million with two crossings. Those crossings were reported in Hemas, which crossed one million shares to the tune of Rs 65 million and its shares traded at Rs 65 and Vallibel Finance 2.4 million shares crossed for Rs 43.4 million; its shares traded at Rs 31.

In the retail market top seven companies that mainly contributed to the turnover were, Hemas Rs 125 million (1.9 million shares traded), JKH Rs 62.4 million (447,000 shares traded), Sampath Bank Rs 61.3 million (1.2 million shares traded), Hayleys Rs 57.9 million (828,000 shares traded), LB Finance Rs 52.9 million (963,000 shares traded), Vallibel Finance Rs 39.2 million (1.3 million shares traded) and Capital Alliance Rs 27.8 million (829,000 share traded). During the day 34.7 million share volumes changed hands in 8000 transactions.

Sri Lanka spot US dollar opened at Rs 291.00/292.50 and bonds were steady yesterday, dealers said. The spot US dollar closed at Rs 291.00/292.00 on Wednesday.A bond maturing on 15.09.2027 was quoted at 23.00/30 percent, down from 23.10/40 percent a day earlier, dealers said. A bond maturing on 01.05.2025 was quoted at 26.25/75 percent, steady from 26.25/60 percent on Wednesday.