Share market positively impacted by speculation on TB rates

By Hiran H.Senewiratne

CSE trading was positive due to market speculation that Treasury Bill rates had come down at yesterday’s auction. This development positively impacted the market, stock market analysts said.

Shares edged- up in mid -day trade as the CSE returned to pre-COVID trading hours. Consequently, the market began on a positive note while turnover relatively improved, analysts added.

Amid those developments both indices moved upwards. The All- Share Price Index went up by 88.84 points and S and P SL20 rose by 47.22.points. Turnover stood at Rs 1.6 billion with three crossings. Those crossings were reported in JKH, which crossed 500,000 shares to the tune of Rs 58.75 million; its shares traded at Rs 137.50, Lanka Tiles 928,000 shares crossed for Rs 44.5 million and its shares traded at Rs 48 and Hayleys 450,000 shares crossed to the tune of Rs 32.8 million; its shares fetched Rs 73.

In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 311 million (1.8 million shares traded), Tokyo Cement (Non -Voting) Rs 189 million (3.9 million shares traded), Sunshine Holdings Rs 80.6 million (1.7 million shares traded), Tokyo Cement Rs 75.4 million (1.4 million shares traded), Browns Investments Rs 40.2 million (6.6 million shares traded) and Agsta PLC Rs 38.3 million (three million shares traded).

It is said that high net worth and institutional investor participation was noted in Royal Ceramics, Lanka Walltiles and Ceylon Cold Stores. Mixed interest was observed in Expolanka Holdings, JKH and Talawakelle Tea Estates, while retail interest was noted in Marawila Resorts (rights), SMB Leasing Non-Voting and Browns Investments.

The Capital Goods sector was the top contributor to the market turnover (due to Royal Ceramics, Lanka Walltiles, John Keells Holdings and Hayleys) while the sector index edged up by 0.11%. The share price of Royal Ceramics gained 50 cents to reach Rs. 29.40. The share price of Lanka Walltiles moved up by 80 cents to reach Rs. 50.10.

The Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings), while the sector index increased by 11.10 per cent. The share price of Expolanka Holdings increased by Rs. 16.25 (11.11 per cent) to reach Rs. 162.50.

The share price of JKH recorded a loss of 75 cents to register Rs. 138. The share price of Hayleys appreciated by 90 cents to reach Rs. 73.30.During the day 84.3 million share volumes changed hands in 18000 transactions.

Yesterday, the Central Bank’s US dollar buying rate was Rs 311.44 and the selling rate Rs 327.66.