Impressive banking and financial counters fail to halt stock market’s slide
By Hiran H. Senewiratne The CSE did not perform well yesterday owing to a host of external and internal environmental factors that did not support stock trading, market analysts said. The All Share Price Index went down by 41.53 points, while the S and P SL20 declined by 14.92 points. Turnover stood at Rs 873 […]
The Ceylon Stock Exchange (CSE) experienced a decline in performance on a recent trading day, with the All Share Price Index falling by 41.53 points and the S&P SL20 index decreasing by 14.92 points. Trading volume was relatively low, with turnover amounting to Rs 873 million and only four share crossings. Standard Chartered Capital led the crossings, trading 3.9 million shares worth Rs 150 million, while Sampath Bank contributed 688,000 shares totaling Rs 96 million.
Other significant contributors included Lanka IOC and NDB, both crossing shares worth Rs 63 million and Rs 55 million respectively. The retail market saw contributions from Digital Mobility Solutions, Ambeon Capital, LB Finance, Commercial Bank, JKH, Sampath Bank, and HNB. The banking sector, specifically Sampath Bank and Commercial Bank, showed strength, while financial sector counters like LB Finance and JKH also performed well.
Fitch Ratings upgraded the long-term foreign and local currency issuer default ratings of the state-run Bank of Ceylon from 'CCC+' to 'B-', with a stable outlook, and raised its short-term issuer default rating to 'B' from 'C'. Additionally, Aitken Spence Hotel Holdings PLC listed rated, unsecured senior redeemable debentures on the CSE, following a successful debenture issuance in September.
The rupee was quoted at Rs 330.65/70 to the US dollar, and bond yields remained stable. Notably, bond maturities ranging from 2028 to 2034 saw varying levels of price changes.
Written by urgent.news from The Island Sri Lanka's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
