IMF staff level agreement imparts some bullishness to bourse – The Island

The CSE reflected a bullish trend yesterday due to the positive IMF staff level discussions and the comparatively stable situation in the West Asian region. The All Share Price Index went up by 284 points, while the S and P SL20 rose by 84.98 points. Turnover stood at Rs five billion with 13 crossings.

The first seven crossings were: JKH 7.4 million shares crossed to the tune of Rs 227.2; its shares traded at 20.10, Commercial Bank 900,000 shares crossed to the tune of Rs 189 million; its shares traded at Rs 210, LB Finance 885,000 shares crossed for Rs 134.3 million; its shares traded at Rs 152, Chevron Lubricants 700,000 shares crossed to the tune of Rs 128.8 million; its shares traded at Rs 184, ACL Cables 1.2 million shares crossed for Rs 114 million; its shares sold at Rs 92, DFCC Bank 454,000 shares crossed for Rs 85.65 million; its shares sold at Rs 145 and Seylan Bank 556,000 shares crossed for Rs 58.2 million; its shares fetched Rs 100.

In the retail market top seven companies that mainly contributed to the turnover were; Ceylon Land and Equity Rs 410 million (39 million shares traded), JKH Rs 225 million (11.2 million shares traded), Hikkaduwa Beach Resort Rs 185 million (37.6 million shares traded), HNB Finance Rs 153 million (15.3 million shares traded), LMF Rs 151 million (1.6 million shares traded), Prime Lands Residencies Rs 143 million (2.8 million shares traded) and Colombo Land Developments Rs 114 million (1.9 million shares traded).

During the day 261.7 million shares volumes changed hands in 36529 transactions.

It is said that manufacturing sector counters, especially JKH, led the market while the banking and finance sector also performed well. Leisure sector counters, especially Hikkaduwa Beach Resort, performed well. Ceylon Land and Equity contributed more than 10 percent to the turnover.

Meanwhile, the National Development Bank 5,308,377 ordinary voting shares have been listed with effect from April 10, following a scrip dividend in the proportion of 1 : 80.4180744886808.

Yesterday the rupee was quoted flat at Rs 315.55/65 to the US dollar in the spot market dealers said, while bond yields opened broadly steady.

A bond maturing on 15.06.2029 was quoted at 9.90/10.00 percent.

A bond maturing on 15.10.2029 was quoted at 10.00/10 percent, up from 9.95/10.05 percent.

A bond maturing on 01.03.2030 was quoted at 10.00/15 percent, up from 10.02/12 percent.

A bond maturing on 01.07.2030 was quoted at 10.10/20 percent, down from 10.15/20 percent.

A bond maturing on 15.06.2034 was quoted at 11.15/25 percent, up from 10.15/20 percent.

By Hiran H Senewiratne