Mid-East tensions continue to weigh heavily on bourse

The CSE yesterday evinced negative market conditions stemming from continuing Middle East tensions, market analysts said. The All Share Price Index went down by 135 points, while the S and P SL20 declined by 36.3 points. Turnover stood at Rs 1.44 billion with seven crossings. Those crossings were; Hemas Holdings 4.7 million shares crossed for Rs 149 million and its shares traded at Rs 32, Access Engineering Rs 1.7 million shares crossed for Rs 131 million; its share price was Rs 77, JKH 3.9 million shares crossed for Rs 76.6 million; its shares sold at Rs 19.90, Central Finance 150,000 shares crossed to the tune of Rs 33.7 million; its shares traded at Rs 225, CCS 222000 shares crossed for Rs 25 million; its shares sold at Rs 124, Commercial Bank 100,000 shares crossed for Rs 25 million; its shares sold at Rs 206 and NDB 185,000 shares crossed to the tune of Rs 20 million; its shares sold at Rs 109. In the retail market companies that mainly contributed to the turnover were; Melstacorp Rs 170 million (644,000 shares traded), Industrial Asphalts Rs 50 million (70 million shares traded), Hayleys Rs 40 million (183,000 shares traded), Softlogic Life Rs 38 million (446,000 shares traded), Dialog Rs 36.5 million (838,000 shares traded), Hemas Rs 34.9 million (1.1 million shares traded) and JKH Rs 32.2 million (1.6 million shares traded). During the day 119.5 million share volumes changed hands in 15568 transactions. It is said that manufacturing sector counters, especially JKH, Hemas and Melstacope performed well. Commercial Bank shares also performed well. Yesterday the rupee was quoted at 336.65/75 to the US dollar in the spot market, weaker from 336.00/30 the previous day, while bond yields were quoted higher, dealers said. The telegraphic transfer rates for Sri Lanka’s rupee against the US dollar was 331.50 buying, 340.50 selling; the euro was 376.2676 selling, 390.1846 buying; and the pound was 443.1308 buying, 457.1764 selling. By Hiran H Senewiratne