High value stocks snapped-up for less than market price

Investor concerns over global market conditions combined with bank interest rates to trigger a downward trend among certain high value stocks yesterday. Consequently, investors used these conditions to purchase the latter stocks stocks at lesser prices, market analysts noted.

The All Share Price Index went down by 146.44 points, while the S and P SL20 declined by 34.92 points. Turnover stood at Rs 1.76 billion with six crossings.

Those crossings were; Colombo Dockyard 1 million shares crossed to the tune of Rs 131 million and its shares traded at Rs 131,Sathosa Mortors 58000 shares crossed for Rs 69.6 million; its shares traded at Rs 1200, Distilleries 500,000 shares crossed for Rs 28.5 million; its shares fetched Rs 57, Hemas Holdings 755,000 shares crossed for Rs 25 million; its shares sold at Rs 32.50, Hayleys 100000 shares crossed to the tune of Rs 23.8 million, its shares traded at Rs 238 and ACL Cables 200,000 shares crossed for Rs 20 million; its shares traded at Rs 100.

In the retail market companies that mainly contributed to the turnover were; WindForce Rs 470 million (11.7 million shares traded), HNB Finance Rs 46 million (4.8 million shares traded), CTC Holdings Rs 45 million (1.4 million shares traded), JKH Rs 43 million (2.1 million shares traded), Galadari Hotels Rs 43 million (2.8 million shares traded), Colombo Dockyard Rs 41 million (312,000 shares traded) and Sathosa Mortors Rs 37 million (31,000 shares traded. During this day 60 million shares volumes changed hands in 18046 transactions.

Manufacturing sector counters, especially JKH, performed well while Colombo Dockyard performed well also.

Analysts noted that Convenience Foods Lanka authorized a first and final dividend of Rs 8.00 per share for the financial year ended March 31, 2026.

Meanwhile, Tokyo Cement Company (Lanka) proposed a first and final dividend of Rs 2.50 per share for both its voting and non-voting ordinary shares, funded through dividends received from its subsidiary.

Yesterday the rupee buying rate was Rs 331.66, while the selling rate was Rs 341.30.

By Hiran H Senewiratne

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