Stock investors turn nervous; turnover dips below Rs. 1 billion level

By Hiran H.Senewiratne

The CSE was somewhat volatile yesterday following the previous day’s operation by the security forces in close proximity to the Presidential Secretariat. Stock market investors were considerably panicky and profit- takings were noted consequentially, stock market analysts said. Sri Lanka’s nation-wide inflation rose 58.9 per cent in the 12-months to June 2022; the worst so far in the history of the country. However, Central Bank Governor Dr Nandalal Weerasinghe told the international media that the current high inflation is expected to come down in the next few months.

Trading activities slowed down and the turnover level touched below the Rs one billion level. Both indices moved downwards. The All -Share Price Index went down by 14.6 points and S and P SL20 declined by 14.6 points. Turnover stood at Rs 866 million with a single crossing. The crossing was reported in Sunshine Holdings, which crossed 1.7 million shares to the tune of Rs 61.2 million; its shares traded at Rs 36.

In the retail market top seven companies that mainly contributed to the turnover were; Lanka IOC Rs 173.5 million (2.1 million shares traded), Browns Investments Rs 152.7 million (19.6 million shares traded), Sunshine Holdings Rs 107.2 million (2.9 million shares traded), Expolanka Rs 47.2 million (265,000 shares traded), Hayleys Rs 32.1 million (437,000 shares traded), hZenid Rs 20.5 million (925,000 shares traded) and JKH Rs 18.7 million (155,000 shares traded). During the day 52.8 million share volumes changed hands in 13000 transactions.Yesterday, the US dollar parity rate stood at Rs 368.49.