Friday, February 22, 2013

JKH Continues to move up

Bourse edges down further on low turnover
The Colombo bourse lost more ground on a low turnover of Rs.484.4 million, down from the previous day’s Rs.763.5 million, with both indices down – the All Share by 4.43 points (0.08%) and S&P SL20 by 12.29 points (0.38%) with 127 losers comfortably ahead of 79 gainers while 106 counters closed flat.

Foreign purchases amounted to Rs. 358.64 million, with selling at Rs. 62.07 million, a net inflow of Rs. 296.56 came in to the market.

"The ASPI ended marginally lower amid mediocre activity levels dominated by trades on JKH, which accounted for over 65% of market turnover inclusive of a block trade," John Keells Stockbrokers said.

Turnover was dominated by two crossings of 500,000 JKH at Rs.235, up Rs.4.80 from the previous close, in deals worth Rs. 117.5 million.

JKH closed at Rs.235.20 on the trading floor gaining Rs.2.40 from the previous close on nearly 0.9 million shares done between Rs.233 and Rs.235.30 contributing Rs.210.1 million to turnover. There were two blocks of 100,000 shares each among the JKH trades at Rs.235.

Brokers said that retail participation was poor with several banking stocks being among the most traded counters though, with the exception of Commercial Bank, on thin volumes.

Commercial Bank where nearly 0.2 million shares were done between Rs.105.20 and Rs.107.60, closing a rupee down at Rs. 107, contributed Rs.19 million to turnover.

Other banking stocks that showed some volume included NDB down 10 cents to Rs.150.10 on 82,252 shares, HNB (voting) closing flat at Rs.147 on 61,928 shares, Sampath down Rs.7.40 to Rs.227 on 34,777 shares trading between Rs.226.50 and Rs.235 and DFCC up Rs.1.60 to Rs.125 on 27,588 shares.

Dialog closed flat at Rs.9.10 on over 1.7 million shares traded between Rs.9 and Rs.9.20.

Overseas Realty announced a first and final dividend of 30 cents per share for 2012 following shareholder approval at an AGM on May 16. The share will trade XD from May 17 with payment on May 28.

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