Investors in wait-and-see mode ahead of reportedly crucial IMF-Govt. talks

By Hiran H.Senewiratne

CSE trading activities were positive throughout yesterday but investors are in a wait- and- see mode as the IMF- govt. discussions on the bailout reportedly come to a close, market analysts said.

“However, the market edged- up in mid- day trade and shares were pretty volatile, as investors await the outcome of the IMF-govt. talks on Monday, analysts explained.

Amid those developments both indices moved upwards. The All -Share Price Index went up by 89.6 points and S and P SL20 rose by 30.9 points. Turnover stood at Rs 1.25 billion with two crossings.

Those crossings were reported in Melstacorp, where 2.3 million shares crossed to the tune of Rs 134 million; its shares traded at Rs 57 and JKH 156 million shares crossed for Rs 22.6 million and its shares traded at Rs 145.

In the retail market top seven companies that mainly contributed to the turnover were; Hayleys Rs 140 million (1.7 million shares traded), Tokyo Cement (Non- Voting) Rs 83.6 million (1.8 million shares traded), Lanka Tiles Rs 39.7 million (824,000 shares traded), Browns Investments Rs 36.7 million (5.7 million shares traded), Piramal Glass Rs 35 million (1.7 million shares traded), Lanka Wall Tiles Rs 35 million (592,000 shares traded) and Lanka IOC Rs 34.5 million (181,000 shares traded). During the day 55.8 million share volumes changed hands in 15000 transactions.

Yesterday the Central Bank’s US dollar buying rate was Rs 332.20 and the selling rate Rs. 350.22.

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