Share market indices dip in the wake of Vallibel One’s negative contribution

By Hiran H.Senewiratne

Over the last few days the stock market reflected a dull sentiment due to low retail and institutional participation stemming from the festive season but currently records steady improvement with positive external and internal market behaviors surfacing.

Yesterday both indices moved downwards, though, due to a negative contribution by Vallibel One. As a result, the All Share Price Index went down by 11.25 points, while the S and P SL20 declined by 16.04 points.

Turnover stood at Rs 774 million with two crossings. Those crossings were reported in Melstacope, which crossed 800,000 shares to the tune of Rs 75.2 million; its shares traded at Rs 94 and Dialog 4 million shares crossed for Rs 35.2 million; its shares traded at Rs 8.80.

In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 76 million (524,000 shares traded), Associated Motor Finance Rs 46.6 million (2 million shares traded), JKH Rs 34 million (184,000 shares traded), Singer (Sri Lanka) Rs 34.7 million (2.8 million shares traded), Commercial Bank Rs 33.4 million (351,000 shares traded), CTC Rs 27.4 million (27000 shares traded) and Dialog Axiata Rs 27 million (3 million shares traded). During the day 42.1 million share volumes changed hands in 9000 transactions. Further 98 companies performed negatively and 75 companies performed well.

Yesterday, the rupee opened at Rs 322.10/30 to the US dollar from Rs 322.45/65 the previous day, dealers said.

Bond yields were broadly stable. A bond maturing on 01.06.2026, was quoted at 13.75/85 percent. A bond maturing on 15.09.2027 was quoted at 14.15/17 percent. A bond maturing on 01.07.2028 was quoted at 14.20/30 percent.