An announcement by Browns Beach Hotel that it was de-listing from the CSE was among the highlights of CSE activities yesterday. Its trading operations are due to be suspended from April 28. But CSE trading as a whole was mainly driven by bargain hunters and a few select stocks, due to prevailing global uncertainty, market analysts said.

The All Share Price Index went up by 44.68 points, while the S and P SL20 rose by 20.83 points. Turnover stood at Rs 2.97 billion with eight crossings.

Those crossings were: Colombo Land and Developments 2.35 million shares crossed to the tune of Rs 146.87 points; its shares traded at Rs 62.50, Kotagala Plantations eight million shares crossed to the tune of Rs 72 million; its shares sold at Rs 9, Dipped Products one million shares crossed for Rs 57 million; its shares traded at Rs 57, Commercial Bank 230,000 shares crossed for Rs 48.3 million; its shares sold at 210, ACL Cables 385,000 shares crossed to the tune of Rs 37.73 million, its shares traded at Rs 98, Dialog Axiata 1 million shares crossed for Rs 35 million; its shares traded at Rs 35 and HNB 50000 shares crossed for Rs 20.50 million; its shares fetched Rs 409.

In the retail market top seven companies that mainly contributed to the turnover were; Maharaja Foods Rs 195 million (12.9 million shares traded), Vidul Lanka Rs 123.7 million (4.95 million shares traded), LMF Rs 108 million (1.2 million shares traded), Colombo Lands and Developments Rs 97 million (1.5 million shares traded), Bairaha Rs 91 million (one million shares traded), Hikkaduwa Beach Resort Rs 73.8 million (11.9 million shares traded) and Singer (Sri Lanka) Rs 70.6 million (806,000 shares traded). During the day 141.6 million shares volumes changed hands in 27332 transactions.

It is said that Plantations and livestock sectors performed in a significant manner, especially Kotagala Plantations and Bairaha Farms. Manufacturing sector, especially Dipped Products, also performed well. Meanwhile banking sector counters as usual performed well, especially Commercial Bank.

Further, energy firm WindForce said it has entered into a loan agreement with the International Finance Corporation (IFC), a member of the World Bank Group, to obtain up to US $ 18 million in two phases.

Yesterday, the rupee was quoted at 318.25/319.00 to the US dollar on Monday, unchanged from Friday’s close, dealers said, while bond yields were broadly steady.

By Hiran H Senewiratne