Poultry sector counters witness speculative trading

By Hiran H.Senewiratne

The stock market witnessed a steep decline at the beginning of trading yesterday but during the latter part of the day it recovered, market analysts said. During the early part of the session heavy selling pressure was noted in banking sector counters but poultry sector counters ran the show due to speculative trading, analysts added.

Amid those developments both indices moved downwards. The All- Share Price Index went down by 68.3 points and S and P SL20 declined by 27.9 points. Turnover stood at Rs 2 billion with three crossings. Those crossings were reported in JKH, which crossed 545,000 shares to the tune of Rs 100.1 million and its shares traded at Rs 184.50, DFCC 300,000 shares crossed for Rs 26.7 million; its shares traded at Rs 89 and HNB 150,000 shares crossed for Rs 26.3 million; its shares traded at Rs 175.

In the retail market top seven companies that mainly contributed to the turnover were; Grain Elevators Rs 220 million (1.33 million shares traded), JKH Rs 209 million (1.14 million shares traded), Capital Alliance Rs 145 million (1.17 million shares traded), Hayleys Rs 90.3 million (1 million shares traded), HNB Rs 81 million (464,500 shares traded), Three Acre Farms Rs 65 million (285,000 shares traded) and First Capital Rs 62.4 million (1.2 million shares traded). During the day 52.9 million share volumes changed hands in 18672 transactions.

The rupee traded at Rs 323.75/324.25 to the US dollar, after closing on the previous day at Rs 323.85/324.15 to the US dollar, dealers said.

A bond maturing on 15.05.2026 was quoted down at 14.00/05 percent after closing at 14.50/15.05 percent on Thursday. A bond maturing on 15.09.2027 was quoted down at 14.15/35 percent after closing at 14.20/75 percent. A bond maturing on 01.05.2028 was quoted up at 14.00/05 percent after closing at 13.70/14.20 percent.