Stocks end mixed amid profit-taking, blue chips mainly contribute to turnover

By Hiran H.Senewiratne

Trading at the Colombo Stock Exchange (CSE) yesterday showed mixed reactions and did not exhibit high investor sentiment amid profit-taking in certain counters, market analysts said.

Despite the market being down, there was some slow interest in the capital goods sector due to constant assurances on the debt restructuring front, while policy rates were cut by 200 basis points, inflation also stooped down to 12 percent and is expected to drop further to single digits in the next month, analysts said.

Amid those developments both indices showed mixed reactions. All Share Price Index down by 9.3 points while S and S SL20 up by 21.6 points. Turnover stood at Rs 2.1 billion with three crossings. Those crossings were reported in Melstacorp, which crossed one million shares to the tune of Rs 70 million and its share price traded at Rs 70, JKH 424,000 shares shares crossed to the tune of Rs 66.1 million and its share price traded at Rs 154.50 and Pas Asia Bank two million shares crossed to the tune of Rs 28 million and its share price traded at Rs 14.

In the retail market top seven companies that mainly contributed to the turnover were: Melstacorp Rs 166 million (2.4 million shares traded), Capital Alliance Rs 121.3 million (2.6 million shares traded), Aitken Spece Rs 96.3 million (740,000 shares traded), Softlogic Capitals Rs 70.5 million (6.1 million shares traded), Browns Investments Rs 65.8 million (12.1 million shares traded), Agstar Plc Rs 59.4 million (5.2 million shares traded), and Lanka IOC Rs 54.1 million (413,000 shares traded). During the day 103.2 million shares share volumes changed hands in 26000 transactions.The losers during 1200 hours were Sampath Bank, Commercial Bank and Richard Pieris and Company.

Bonds were steady at open, dealers said while the spot US dollar opened at Rs 311.00/313.00 .The rupee closed at Rs 310.00/312.00 on Friday. A bond maturing on 15.09.2027 was quoted at 14.50/15.10 percent steady from 14.50/15.00 percent from the previous close. A bond maturing on 15.05.2026 was quoted at 14.50/15.00 which remained unchanged from the previous close on Friday. A bond maturing on 01.07.2025 was quoted at 14.25/15.50 steady from 15.00/50 percent from opening.