Poultry sector counters prove an attraction

By Hiran H.Senewiratne

CSE activities were positive throughout yesterday with a significant price appreciation of stocks belonging to poultry sector counters emerging as a highlight in the day’s trading.

Three Acre Farm, Bairaha Farms and Grain Elevators were foremost among companies that  witnessed some price appreciation after quite a while, stock market analysts said. 

Three Acre Farm share prices appreciated by Rs. 6.20 or 4 percent. Its shares started trading at Rs. 167.80 and at the end of the day they moved up to Rs. 174. Bairaha Farms’ shares moved up by 9 percent or Rs. 11.70. Its shares started trading at Rs. 137.30 and at the end of the day they moved up to Rs. 149. Grain Elevators’ shares appreciated by 4 percent. Its shares started trading at Rs. 103 and at the end of the day they moved up to Rs. 107.

Amid those developments both CSE indices moved upwards. The All Share Price Index went up by 39.8 points and S and P SL20 by 11.7 points. Turnover stood at Rs. 2.1 billion with a single crossing. The crossing was reported from National Development Bank, which crossed 1.1 million shares to the tune of Rs. 79 million, its shares traded at Rs. 74. It is said that 134 companies were positive and only 75 became negative during the day.

In the retail market, top five companies that mainly contributed to the turnover were; Expolanka  Rs. 394 million (15.5 million shares traded), Hemas Holdings Rs. 106.2 million (1.3 million shares traded), JKH Rs. 102.4 million (692,000 shares traded), Melstacorp Rs. 94.8 million (2.4 million shares traded) and Dipped Products Rs. 99 million (269,000 shares traded). During the day 78.1 million share volumes changed hands in 18668 transactions.

Sri Lanka rupee quoted flat at 184.90/185.20 to the US dollar in the spot market on Friday while gilt yields were steady in the overall market, dealers said. The rupee closed at 184.90/185.20 to the US dollar on Thursday.