Share market's sensitivity to debt-restructuring brings boons
The stock market was yesterday somewhat volatile due to profit- takings in banking sector counters. But it is said that investor participation and turnover were quite satisfactory due to the market attracting external environmental developments, especially Sri Lanka's external debt restructuring exercise, market analysts said.
In this scenario both indices showed mixed reactions. The All Share Price Index went up by 18.9 points while S and P SL20 rose by 7.8 points. Turnover stood at Rs 2.14 billion with three crossings. Those crossings were reported in Citizens Development Business Finance, which crossed 1.49 million shares to the tune of Rs 305 million; its shares traded at Rs 205, JKH 460,000 shares crossed for Rs 91.4 million; its shares traded at Rs 198.25 and HNB 100,000 shares crossed for Rs 21.5 million; its shares sold at Rs 215.
In the retail market, companies that mainly contributed to the turnover were; JKH Rs 366 million (1.8 million shares traded), Sampath Bank Rs 106 million (1.3 million shares traded), Commercial Bank Rs 85.2 million (800,000 shares traded), Dialog Rs 72 million (7.3 million shares traded), Agarapathana Plantations Rs 51.8 million (5.8 million shares traded), Hayleys Rs 51 million (488,000 shares traded) and Chevron Lubricants Rs 50 million (406,000 shares traded). During the day 73.1 million share volumes changed hands in 12663 transactions.
Banking and finance sector counters, especially Citizens Development Business Finance and Sampath Bank, were main contributors to the turnover, while in manufacturing, especially JKH became the second largest contributor to the turnover. Plantations sector counters are also a bit active in the market.
The rupee was trading at Rs 292.75/85 to the US dollar, from Rs 293.15/20 a day earlier, while bond yields were slightly up, dealers said.
An auction of Rs. 85,000 million of Treasury bills was ongoing. A bond maturing on 15.12.2026 was quoted at 10.30/40 percent, down from 10.40/60 percent. A bond maturing on 15.12.2027 was quoted at 11.50/75 percent, up from 11.45/65 percent. A bond maturing on 15.02.2028 was quoted at 11.82/87 percent, up from 11.70/85 percent. A bond maturing on 15.09.2029 was quoted at 12.05/20 percent, up from 12.00/20 percent.
