"Turnover was healthy with business generated by JKH, DFCC, Seylan Merchant Bank, Distilleries and Asia Capital," Asmath Iqbal of John Keells Stockbrokers said. "Retail play was evident in Seylan Merchant".
JKH with 2.3 million shares done between Rs.263 and Rs.266 gained Rs.2.40 to close at Rs.266 generating the day’s top turnover of Rs.608.5 million.
Brokers said that one big parcel of 2 million shares was among the quantity traded. There was unconfirmed speculation that the Insurance Corporation was the seller and there was foreign buying.
DFCC with nearly 0.7 million shares done was down Rs.3.80 to Rs.325 on a trading range of Rs.325 to Rs.330.
Retailers ran Seylan Merchant Bank where over 65.4 million shares were traded between Rs.2.70 and Rs.3.30 dropping 30 cents to close at Rs.2.70.
"Heavy retail activity on Monday moved this stock up around 10%," brokers said. "It lost about the same today."
Distilleries with 1.1 million shares done between Rs.139 and Rs.146 was up Rs.5.30 with some punters taking the view that the government pay back on the Insurance Corporation’s repossession was imminent.
Other stocks showing volume included Asia Capital (about 2.6 million shares), LB Finance (about 0.6 million shares), Seylan Merchant Bank (non voting – over 28.4 million shares), Vallibel Finance (nearly 1.2 million), NDB (over 0.2 million) and The Finance (nearly 1.2 million). All these counters other than Seylan Merchant (X) were gainers with the LB Finance up a substantial Rs.11.10.
Sierra Cables announced that it was merging with its subsidiary, Alucop, while Lanka Tiles announced that the strike at its factory had ended yesterday with a Collective Agreement signed.
Brown & Company announced a dividend of Rs.1.30 per share XD from September 8 and payment on September 20 while E.B. Creasy announced a dividend or Rs.3 per share XD from October 1 after September 30 AGM and with payment on October 11
source - www.island.lk
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