Price of war keenly felt by investor community

By Hiran H. Senewiratne

The escalation of tensions in the Middle East and the surge in oil prices are continuing to negatively impacted investor sentiment, market analysts said yesterday.

The All Share Price Index went down by 93.55 points, while the S and P SL20 declined by 23.8 points.

Turnover stood at Rs 1.45 billion with five crossings. Those crossings were; Sampath Bank 3 million shares traded to the tune of Rs 428 million; its shares traded at Rs 142.50, Commercial Bank 256,000 shares crossed for Rs 49 million; its shares traded at Rs 204.50, Digital Mobility Solutions 190,000 shares crossed to the tune of Rs 30 million; its shares fetched Rs 158, Overseas Realty 493,000 shares crossed for Rs 26 million; its shares sold at Rs 53 and Royal Ceramics 469,000 shares crossed to the tune of Rs 23 million; its shares traded at Rs 48.50.

In the retail market companies that mainly contributed to the turnover were; Commercial Credit and Finance Rs 38 million (376,000 shares traded), Renuka Agri Rs 33 million (2.8 million shares traded), Sierra Cables 32 million (925,000 shares traded), Singer SriLanka Rs 31 million (359,000 shares traded), Dialog Axiata Rs 31 million (637,000 shares traded) and Access Engineering Rs 30 million (383,000 shares traded). During the day 35 million share volumes changed hands in 13380 transactions.

It is said that banking sector counters, especially Commercial Bank, led the market,which contributed close to half of the total turnover. Apart from that other sectors, including manufacturing, telecom and construction counters performed well.

Meanwhile, Melstacorp (down 1.32 percent at Rs 187.00 ), Royal Ceramics Lanka (down 1.22 percent at Rs 48.50 ), Hemas Holdings (down 1.27 percent at Rs 31.20 ), and Dipped Products (down 1.50 percent at Rs 59.00) were top negative contributors.

Yesterday the rupee was quoted at Rs 328.60/70 to the US dollar in the spot market from Rs 328.60/80 the previous day, while bond yields were quoted steady to lower, dealers said.

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