By Hiran H. Senewiratne
Trading at the CSE started off with a positive note yesterday and in the middle of the session, the market dipped due to profit takings. Subsequently, at the later part of the day it showed slightly recovery. However, the market performed in a negative manner in mid-day trade on shares which were down on the financial year coming to an end, an analyst said.
“The market is down as financial years come to an end and investors await reports to be produced,” another analyst said. It is said that profit taking had been witnessed in Sri Lanka Telecom as the Cabinet of Ministers has granted approval in principle for the divestment of the stakes held by the Treasury Secretary.
It is said that buying interest for Lanka IOC as global oil prices have come down, pushing the interest for the index up. While selling pressures have decreased on banks and stability is coming back as the share price has gone down, which has pitched in buying interest for the index, they said.
Amid those developments both indices moved downward. All Share Price Index down by 43.9 points and S and P SL20 down by 2.95 points. Turnover stood at Rs 912 million without reporting a single crossing. In the retail market top seven companies that mainly contributed to the turnover Lanka IOC Rs 124.3 million (716,000 shares traded), Sampath Bank Rs 71.8 million (1.3 million shares traded), NTB Rs 62.1 million (one million shares traded), SLT Rs 57.2 million (596,000 shares traded), Dialog Rs 51.1 million (4.9 million shares traded), NTB Rs 43 million (998,000 shares traded), and Melstacorp Rs 40.9 million (438,000 shares traded). During the day 45.7 million share volume changed hands in 12000 transactions.
In the meantime treasury bond yields were steady and the rupee opened stronger in the spot market on Thursday, dealers said. A 01.07.2025 bond was quoted at 31.25/75 percent on Thursday, steady from 31.25/30 percent on Wednesday.
A 15.09.2027 bond was quoted at 28.30/29.00 percent, steady from 28.25/29.00 percent on Wednesday. Sri Lanka rupee opened at 327/328.50 rupees against the US dollar strengthened, from 328.50/329.50 rupees from a day earlier.
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