The Colombo Stock Exchange (CSE) yesterday kicked off on a positive note but later turned a bit gloomy on perceived concerns about the presidential election as investors
were worried that there would be another economic crisis due to inconsistent policies arising from some election manifestos, market analysts said.
Amid those developments both indices moved downwards. All Share Price Index down by 23.65 points while S and P SL20 down by 6.52 points. Turnover stood at Rs 759 million with two crossings. Those crossings were reported in Renuka Agri, which crossed 62.7 million to the tune of Rs 175 million and its share price traded at Rs 2.80 and HNB 120,000 shares crossed to the tune of Rs 20.16 million and its share price traded at Rs 168.
In the retail market top seven companies that mainly contributed to the turnover were Sampath Bank Rs 96.5 million (1.3 million shares traded), HNB Rs 60 million (365,000 shares traded), JKH Rs 48.9 million (287,000 shares traded), Commercial Bank Rs 28.1 million (326,000 shares traded), Hayleys Rs 17.5 million (195,000 shares traded), CIC Holdings Rs 17.5 million (252,000 shares traded) and LOLC Holdings Rs 16.4 million (43,000 shares traded). During the day 86.6 million share volume changed hands in 8000 transactions.
It was said that banking sector counters performed well, especially HNB and Sampath Bank. Manufacturing sector counters especially Renuka Agri and HNB also performed after banking sector counters.
Yesterday, the Central Bank announced the US dollar rate. The buying rate at Rs 295.38 and selling rate Rs 304.58.
