7 hours Ago By Sahan Weerasooriya
CSE trading was halted yesterday after a sensitive index dropped 5.30-pct 20 minutes after resuming its trading activities following massive selling pressure. This was also mainly due to US President Donald Trump’s tariff increase on imports entering the US market.
The market halted or witnessed a circuit- breaker due to the S&P SL20 index dropping over 5 percent from the previous close. This practice was in accordance with SEC Directive dated April 30, 2020,market analysts said. Further, Asian markets were sharply down as the impact from Trump tariffs continued to shake investors, with Shanghai’s SSE Composite Index down 8.
98 percent, Taiwan’s TAIEX down 9.70 percent, and Singapore’s Straits Times Index down 8.1 percent, reports showed.
“Accordingly, the market had been halted for 16 minutes (from 9.51 a.m to 10.
07 a.m) and the CSE will conduct an Auction Session for a duration of 14 minutes (from 10.07a.
m to 10.21 a.m).
Thereafter, the Regular Trading session was commence at 10.21 a.m.
, the CSE said. The more liquid S&P SL20 which tracks the larger companies opened down 264 points, while the All Share Price Index down by 698 points. Turnover stood at Rs 6.
74 billion with four crossings. Those crossings were reported in DIMO, which crossed 903,000 shares to the tune of Rs 948 million and its shares traded at Rs 1050, JKH 9.9 million shares crossed for Rs 191 million; its shares traded at Rs 18.
8, TJ Lanka 1 million shares crossed for Rs 44 million; its shares traded at Rs 44 and Access Engineering 1 million shares crossed for Rs 37 million; its shares traded at Rs 37. In the retail market top six companies that mainly contributed to the turnover were; JKH Rs 737 million (39.3 million shares traded), Sampath Bank Rs 625 million (6.
1 million shares traded), HNB Rs 605 million (2.2 million shares traded), Commercial Bank Rs 529 million (4.2 million shares traded), Digital Mobility Solutions Rs 230 million (3.
2 million shares traded) and Browns Investments Rs 173 million (25 million shares traded). During the day 188 million share volumes changed hands in 35000 transactions. Top negative contributors to the ASPI were Commercial Bank (down 8.
58 percent at Rs 122.50), HNB (down 7.96 percent at Rs 269.
00), Sampath Bank (down 5.9 percent at Rs 102.75), Melstacorp (ended 5.
7 percent lower at Rs 120.25), and JKH (down 4.6 percent at Rs 18.
70 ). It is said that the manufacturing and banking sectors were the main contributors to the turnover. JKH was the top individual contributor to the turnover, which represents the manufacturing sector, while the banking sector was headed by Sampath Bank, followed by HNB and Commercial Bank.
Yesterday, the rupee opened at Rs 296.90/297.10 to the US dollar in the spot market , weaker from Rs 296.
65/75 last Friday, dealers said, while bond yields were up. A bond maturing on 15.02.
2028 was quoted at 10.15/20 percent. A bond maturing on 15.
12.2027 was quoted at 10.05/10 percent.
A bond maturing on 15.12.2028 was quoted at 10.
45/48 percent. A bond maturing on 15.09.
2029 was quoted at 10.60/70 percent, up from 10.55/65 percent.
By Hiran H.Senewiratne.
