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Saturday, June 23, 2012

Bourse closes active week on slightly negative note

Turnover up but indices edge down

The Colombo bourse yesterday closed what brokers described as ``an active week after a long period of slumber’’ on a turnover of Rs.674 million, up from the previous day’s Rs.529.5 million. with both indices down – the All Share by a marginal 2.92 points (0.06%) and the Milanka by a sharper 28.79 points (0.64%) with losers outpacing gainers two to one by 129 to 62.

Activity picked up sharply towards close of trading with block trades in Seylan Bank, JKH and Central Finance.

Seylan saw 2.5 million shares crossed at Rs.60 in a deal worth Rs.150 million, JKH 471,088 shares at Rs.194 contributing Rs.93.4 million to turnover and Central Finance 575,000 shares at Rs.135 generating Rs.77.6 million.

Brokers said that the market was very slow during early trading and both indices down much more sharply than at close when activity picked up.

On the trading floor, JKH was the top turnover generator closing Rs.4 down at Rs.192 with nearly 0.3 million shares traded between Rs.192 and Rs.197.

Dialog, where considerable interest was seen this week, closed flat at Rs.6.20 on over 8.1 million shares traded between Rs.6.20 and Rs.6.40 contributing Rs.51.1 million to turnover while Commercial Bank closed 40 cents down at Rs.100.50 on over 0.3 million shares done between Rs.100 and Rs.100.50.

Brokers said that retailers continued to be active in stocks like HVA, down 10 cents to Rs.13.20 on nearly 1.2 million shares, Expolanka, down 20 cents to Rs.6.10 on nearly 2.3 million shares and Nation Lanka, closing at Rs.9 on over a million shares done between Rs.8.70 and Rs.9.20.

Among blue chips that showed volume were Carsons up 50 cents to Rs.466.40 on 39,512 shares, HNB down a rupee to Rs.146 on 73,878 shares and CTC down a rupee to Rs.657 on 11,374 shares. Bukit Darah gained Rs.17.60 to close at Rs.780 on 10,029 shares.

Ceylon Tea Services announced a final dividend of Rs.10 per share for 2011/12 following shareholder approval at a July 18 AGM. The share will trade XD from July 19 with payment on July 27.

Alliance Finance announced a final dividend of Rs.20 per share following shareholder approval at a July 31 AGM with the counter trading XD from Aug. 2 with payment on Aug. 10.

source - www.island.lk