Plantation sector stocks prove active though indices dip

By Hiran H.Senewiratne

The stock market set off on a negative note and shares edged- down in mid-day trade yesterday as the market saw higher selling pressure. Despite those factors, stocks in plantation sector counters were a bit active in the market due to dividend declarations by the relevant companies, market analysts said.

The All- Share Price Index went down by 101.7 points and the S and P SL20 declined by 38.5 points. Turnover stood at Rs 599.2 million without any crossings.

In the retail market top seven companies that mainly contributed to the turnover were; Lanka IOC Rs 62.7 million (472,000 shares traded), Sunshine Holdings Rs 40.5 million (963,000 shares traded), Elpitiya Plantations Rs 34.7 million (349,000 shares traded), HNB Rs 33.7 million (284,000 shares traded), Expolanka Holdings Rs 31.1 million (226,000 shares traded), Watawala Plantations Rs 23.9 million (313,000 shares traded) and Browns Investments Rs 22.6 million (4.5 million shares traded). During the day 27.4 million share volumes changed hands in 13000 transactions.

Yesterday, the rupee opened at Rs 306.30/50 against the US dollar in the spot market, dealers said, while bond yields were steady.

A bond maturing on 01.09.2027 was quoted at 26.40/50 per cent, steady from 26.40/55 per cent at Friday’s close. The rupee opened at Rs 306.30/50 against the US dollar in the spot market, slightly stronger than Rs 306.50/307.20 last Friday.