Share market in bearish sulk as indices decline; four crossings though

By Hiran H.Senewiratne

CSE trading activities were extremely bearish yesterday due to profit- takings in all counters cross-border, stock market analysts said.

The CSE ended last week with mixed sentiments as the ASPI declined but S&P SL was up amidst low turnover as investors remained unenthusiastic about prospects for listed equities, market analysts said.

Amid those developments both indices moved downwards. The All- Share Price Index went down by 213.4 points and S and P SL20 declined by 140.7 points. Turnover stood at Rs 3.99 billion with four crossings. Those crossings were reported in Expolanka Holdings, which crossed 300,000 shares to the tune of Rs 50.6 million; its shares traded at Rs 145.50, Melstacope 300,000 shares crossed for Rs 28.8 million; its shares traded at Rs 86, People’s Leasing 1.9 million shares crossed for Rs 21.9 million; its shares traded at Rs 11.10 and Hemas Holdings 260,000 shares crossed to the tune of Rs 20.8 million; its shares sold at Rs 80.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 1.2 billion (seven million shares traded), NTB Rs 214 million (1.8 million shares traded), Hayleys Rs 152 million (1.7 million shares traded), Sampath Bank Rs 131 million (127,000 shares traded), CTC Rs 127 million (127,000 shares traded) and DFCC Rs 107.5 million (1.2 million shares traded). During the day 137 million share volumes changed hands in 17000 transactions.

JKH was the biggest contributor to the turnover which accounted for more than 33 percent of the turnover. The banking sector counters were also active as on previous days and UB- Finance, which listed on the stock market yesterday, started trading in the market.

Yesterday, the Central Bank announced the US dollar buying rate as Rs 313,99 and the selling rate as Rs 326.88.