Wednesday, April 25, 2012

Indices down on thin trades in dull day

Both indices were down on the Colombo bourse yesterday in a dull day’s trading with only worthwhile activity seen in JKH and Commercial Bank with CIC and Overseas Realty also making some contribution to turnover, brokers said.

A turnover of Rs.288.6 million, up from the previous day’s Rs.246.9 million, was posted with the All Share Price Index down 13.28 points (0.26%) and the Milanka down 16.94 points (0.35%) with 50 gainers trailing 124 losers.

Brokers said that there were no crossings during the day.

``The indices co tinued to decline for a third consecutive day amid low activity levels dominnated by trades on banking and diversified stocks,’’ John Keells Stock Brokers said in a market report.

JKH, trading between Rs.205 and Rs.206.50, closed flat at Rs.206 with nearly 0.3 million shares changing hands generating the day’s top turnover of Rs.59.7 million.

Commercial Bank followed gaining 30 cents to close at Rs.105.30 on over 0.3 million shares traded between Rs.104.70 and Rs.105.30 contributing Rs.34.8 million to turnover.

CIC closed flat at Rs.100 with nearly 0.2 million shares traded between Rs.95 and Rs.100 generating Rs.16.9 million turnover while Overseas Realty gained 50 cents to close at Rs.14 on nearly 1.2 million shares done between Rs.13.80 and Rs.14.20 contributing Rs.16.2 million to the day’s business volume.

There was some activity in Sampath bank which closed 10 cents up at Rs.179.10 on 60,341 shares with Commercial Bank (non-voting) up 20 cents to close at Rs.85 on slightly over 0.1 million shares.

Access Engineering announced that its mandatory offer for Sathosa Motors had closed on April 20 with approximately 4.44% of Sathosa acquired by Access which already held 77.05% of the company.

Additionally, a small quantity of 0.05% (3,174 shares) had been acquired on the trading floor of the CSE during the offer period.

Nestle Lanka announced a final dividend of Rs.47.50 per share subject to shareholder approval at an AGM on June 1. The share will trade XD from June 5 with payment on June 12.

Analysts said this will be among the highest dividend paid by a quoted company. Nestle has already paid an interim dividend for 2011.

Mr. Rayynor Silva has resigned from the boards of the Citrus Leisure, Kalpitiya Beach Resorts and Waskaduwa Beach Resorts according to Stock Exchange filings with the respective companies.

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