Colombo Stock Exchange indices trended higher in midday Tuesday trade even as the rupee weakened against the dollar and government bond yields climbed, EconomyNext reported.
The All Share Price Index was up 0.54 percent at 22,433, gaining 119.98 points, while the S&P SL20 rose 0.34 percent to 6,182.77. An earlier intraday snapshot had shown the ASPI up 0.90 percent at 22,513 before momentum eased.
Top positive contributors to the ASPI were LOLC Holdings (up 0.50 percent at Rs. 558), Dialog Axiata (up 1.63 percent at Rs. 37.50), Browne’s Investments (up 3.33 percent at Rs. 6.20) and John Keells Holdings (up 0.49 percent at Rs. 20.40). Melstacorp, Asiri Surgical Hospital and Ceylon Guardian Investment Trust were the principal drags.
Market turnover reached Rs. 597.2 million, with capital goods leading the activity at Rs. 181.7 million. Colombo Fort Investments announced an interim scrip dividend of Rs. 4 a share totalling Rs. 35.41 million, while Colombo Investment Trust declared a Rs. 4 scrip dividend valued at Rs. 28.59 million.
On the currency market, the telegraphic transfer rate quoted by dealers stood at 328.50/337.50 to the dollar, 439.61/453.66 to the British pound and 380.10/394.02 to the euro — extending the depreciation seen on Monday at Rs. 334.
Bond yields moved up across the curve. A bond maturing on 15.12.2029 was quoted at 10.05/10.15 percent, up from 10.00/10.00 percent, while the 15.06.2034 bond was at 11.30/11.45 percent, up from 11.25/11.35 percent the previous session. The 01.06.2033 paper was quoted at 11.20/11.30 percent and the 15.08.2036 at 11.45/11.50 percent.
The session continues a divergence flagged after Monday’s CSE close at 22,542: equities rallying on selective capital-goods buying even as the rupee extends its slide under sustained oil-import pressure.
