Bourse continues on its lackluster trudge as investor anxieties hamper trading

Dullness prevailed in CSE trading yesterday as investors continued to anxiously watch economic developments, prior to investing in the market. Accordingly, share trading was lackluster, analysts said. The All Share Price Index went down by 43.

75 points, while the S and P SL20 declined by 23.4 points. Turnover stood at Rs 991 million with four crossings.



Those crossings were reported in Asiri Hospital, which crossed 3.2 million shares to the tune of Rs 84.3 million and its shares traded at Rs 26.

20, JKH two million shares crossed to the tune of Rs 39.2 million and its shares traded at Rs 19.60, Commercial Credit 900,000 shares crossed for Rs 33.

2 million and its shares sold at Rs 60.50 and Vallibel One 310,000 shares crossed for Rs 20.1 million; its shares traded at Rs 65.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 118 million (5.9 million shares traded), HNB Rs 84 million (284,000 shares traded), Ceylinco Insurance Rs 53.9 million (17000 shares traded), Browns Investments Rs 49.

7 million (6.4 million shares traded), Vallibel One Rs 42 million (652,000 shares traded), Sampath Bank Rs 38.3 million (346,000 shares traded) and Commercial Credit Rs 22.

8 million (343,000 shares traded). During the day 76.6 million share volumes changed hands in 10000 transactions.

It is said that the manufacturing sector was the main contributor to the turnover, especially with JKH, while the banking and financial sector was the second largest contributor to the furnover. The services sector, especially hospital sector stocks, also performed well. The Rs.

600 million worth rights issue of Lankem Developments PLC has been oversubscribed. The company said total subscription received amounted to Rs. 725.

5 million, inclusive of additional shares applied for. The original issue was 40 million shares (one new share for every three held) at Rs. 15 each.

The company’s share price yesterday closed at Rs. 18.80, up by Rs.

1.10 or 6.2%.

Funds raised are to be used to settle related party dues and further investment in subsidiary companies, as well as future working capital requirements. Yesterday the rupee opened at Rs 299.50/80 to the US dollar in the spot market, from 298.

85/299.25 the previous day, dealers said, while bond yields were broadly steady. A bond maturing on 01.

08.2026 was quoted at 8.70/85 percent.

A bond maturing on 15.09.2027 was quoted at 9.

65/75 percent, down from 9.65/80 percent. A bond maturing on 15.

03.2028 was quoted at 9.98/10.

00 percent, up from 9.95/10.00 percent.

A bond maturing on 01.07.2028 was quoted at 10.

10/15 percent. A bond maturing on 15.10.

2028 was quoted at 10.22/29 percent, up from 10.22/28 percent.

A bond maturing on 15.12.2029 was quoted at 10.

60/65 percent, up from 10.55/65 percent. By Hiran H.

Senewiratne.