The demand for blue chip stocks at the CSE yesterday came down significantly due to a reduction in the foreign flow to the market, ahead of the Central Bank’s policy review later in the week where interest rates are expected to hold steady.
The Colombo stock indices, ie, the All Share Price Index went down by 16.5 points and S and PSL20 by 9.4 points.
Turnover was a low Rs. 495 million compared with this year’s daily average of Rs. 909.3 million. Amid those developments three crossings took-place, those were: Singer Sri Lanka one million shares crossed for the tune of Rs. 47.5 million and its per share value was Rs. 47.50, Lanka Tiles crossed 195,000 shares for Rs. 22.4 million with the per share value of Rs. 115 and HNB (Non Voting) 107,000 shares crossed for Rs. 22 million with a per share value of Rs. 206.
“We are getting into a bullish territory again after a slowdown, stock market analysts said
“Investors do not expect a rate hike this month as they wait for the policy rate announcement. The overall market is bullish with the hope of no rate hike, market sources said. The companies that contributed mainly to the day’s turnover were RIL Property Rs. 27 million (3.1 million shares), Ceylinco Insurance Rs. 24.3 million (16,000 shares) and Commercial Bank Rs. 22.4 million (160,000 shares) During the day 28.1 million shares changed hands in 3709 transactions.