Happy trends continue to buoy bourse

By Hiran H.Senewiratne

Stock market activities yesterday were satisfactory in the wake of Tuesday’s CBSL decisions on interest rates. Both indices moved upwards. The All Share Price Index went up by 95.38 points while S and P SL 20 rose by 39.44 points.

Amid those developments the turnover stood at Rs 1.8 billion with two crossings. Those crossings were reported in Gall Face Capital Partners where 3.9 million shares crossed to the tune of Rs 111 million; its shares traded at Rs. 28 and JKH 285,000 shares crossed for Rs 54.5 million; its shares sold at Rs 191.

In the retail market top seven companies that mainly contributed to the turnover were; Hela Apparels Rs146 million (25.6 million shares traded), LOLC Holdings Rs 89.4 million (218,000 shares traded), Sampath Bank Rs 79.7 (12 million shares traded), Pan Asia Bank Rs 65.3 million (3.1 million shares traded), DFCC Bank Rs 65.3 million (871,000 shares traded), Vallibel One Rs 55.2 million (1 million shares traded) and Capital Alliance Rs 55.2 million (1 million shares traded). During the day 88.9 million share volumes changed hands in 150000 transactions.

It is said that First Capital Asset Management, a subsidiary of First Capital Holdings, yesterday announced the Initial Public Offering (IPO) of its ground-breaking investment product, “First Capital Money Plus Fund.”

This marks a significant milestone in Sri Lanka’s investment landscape as it introduces for the first time ATM access provided through a Unit Trust fund in the country.

Yesterday, the rupee opened at Rs 301.00/20 to the US dollar in the spot forex market, stronger from Rs 301.90/302.00 the previous day, dealers said, while bond yields were down. A bond maturing on 15.12.2026 was quoted at 11.25/35 percent from 11.30/40 percent.

A bond maturing on 15.12.2028 was quoted at 12.05/10 percent from 12.10/15 percent.