Stock Market looks all set to fix the lag but falls short

The trading activities at the Colombo Stock Exchange (CSE) started on a positive note yesterday after the market had fallen by 560 index points over the past six days. However, that momentum did not sustain due to external and internal uncertainties, market analysts said.

“However, market reverted to negative in mid-day trading with sizable selling pressure,”they said. The All Share Price Index was down by 6.7 points, while the more liquid S&P SL20 fell by 7.46 points. Turnover stood by 673 million with a single crossing. The crossing was recorded in Sampath Bank, which crossed two million shares to the tune of Rs 132 million and its share price traded at Rs 66.

In the retail market top seven companies that mainly contributed to the turnover were JKH Rs 58 million (306,000 shares traded), Sampath Bank Rs 45.7 million (696,000 shares traded), Hayleys Rs 44.2 million (401,000 shares traded)m Royal Ceramic Rs 38.1 million (1.3 million shares traded), Capital Alliance Rs 25.1 million ( 394,000 shares traded), Lanka IOC Rs 22 million (203,000 shares traded) and Commercial Bank Rs 21.3 million (252,000 shares traded). During the day 19 million share volume changed hands in 7,500 transactions.

Meanwhile, the Central Bank announced the US dollar buying rate at Rs 317.91 and selling rate Rs 328.74.