Gloom overcomes CSE following statement on taxing primary dealers

By Hiran H.Senewiratne

President Ranil Wickremesinghe’s statement in parliament yesterday on taxing CSE’s primary dealers created a negative sentiment among investors, market analysts said.

With that announcement, negative pressure was witnessed among capital dealers, listed in the stock market, market analysts explained.

Consequently, the All- Share Price Index went down by 123 points, while S and P SL20 declined by 45 points.

Turnover stood at Rs 2.27 billion with one crossing. The crossing was reported in Seylan Bank ( Non- Voting), which crossed 500,000 shares to the tune of Rs 21 million and its shares traded at Rs 43.

In the retail market top seven companies that mainly contributed to the turnover were; Capital Alliance Rs 585 million ( 7.1 million shares traded), First Capital Treasuries Rs 204.5 million ( 5 million shares traded), HNB Rs 198 million ( 1.1 million shares traded), First Capital Holdings Rs 148 million (2.8 million shares traded), Hayley’s Fabrics Rs 104 million (2.1 million shares traded), Ceylon Grain Elevators Rs 61.8 million ( 366,000 shares traded) and Lanka IOC Rs 52.2 million (430,000 shares traded). During the day 62.9 million shares volumes changed hands in 21,000 transactions.

Yesterday, the rupee opened at Rs 321.90/322.50 to the US dollar after closing at 321.75/322.25 on the previous day, dealers said.

A bond maturing on 15.05.2026 was quoted up at 15.55/65 percent after closing at 15.52/60 percent of the previous day. A bond maturing on 01.05.2028 was quoted stable at 14.65/75 percent after closing at 14.60/75 percent.