West Asian tensions combine with high oil prices to stymie CSE
By Hiran H. Senewiratne The CSE yesterday indicated a downward trend with post budget concerns weighing on the bourse coupled with the resurfacing of Middle East tensions and a surge in global oil prices. The All Share Price Index went down by 107.6 points, while the S and P SL20 declined by 67.5 points. Turnover […]
The Ceylon Stock Exchange (CSE) yesterday experienced a downward trend, influenced by post-budget concerns and the resurgence of Middle East tensions, along with a sharp increase in global oil prices. The All Share Price Index fell by 107.6 points, while the S&P SL20 index dropped by 67.5 points.
Trading activity on the day was marked by a turnover of Rs 3.23 billion across 25,653 transactions. The top seven crossing stocks included Dialog Axiata, which saw 2 million shares traded for Rs 100 million, trading at Rs 50 per share. DIPP Holdings saw 1.3 million shares traded for Rs 96.9 million, with shares priced at Rs 73.50 each.
Hemas Holdings experienced 2 million shares traded for Rs 65.6 million, with shares selling at Rs 32.80 per share. Sierra Cables witnessed 1.7 million shares traded for Rs 63.7 million, with shares quoted at Rs 37.50 per share. Central Industries saw 127,000 shares traded for Rs 29.8 million, with shares priced at Rs 235 per share.
Aitken Spence recorded 200,000 shares traded for Rs 29.8 million, with shares selling at Rs 149 each, and CCS saw 192,000 shares traded for Rs 24 million, with shares fetching Rs 125 per share.
In the retail market, key contributors to the turnover were Dip Products, with Rs 465 million (6.4 million shares traded), Access Engineering with Rs 249 million (2.9 million shares traded), Commercial Bank with Rs 245 million (1.1 million shares traded), Sierra Cables with Rs 153 million (4.2 million shares traded), Pickme with Rs 70 million (407,000 shares traded), Tokyo Cement (Non-Voting) with Rs 63 million (880,000 shares traded), and Sampath Bank with Rs 58.4 million (379,000 shares traded).
It was noted that mobile and online companies, particularly Dialog and Pickme, performed well during the day. Additionally, banking sector counters, especially Sampath Bank and several other banks, significantly performed at the trading floor. The rupee remained relatively stable at 332.50/60 to the US dollar spot, while bond yields were quoted slightly higher, according to dealers.
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.
