He said that there was wide expectation of good news in the budget but if this was not realized, the market would be heading for a correction.
"Turnover was very low – about a third of the Rs.2 billion to Rs.3 billion we are used to," he said.
Yesterday’s volumes came largely off the Commercial Bank, CIC, Grain Elevators and Sampath Bank with a useful contribution (given the low turnover) from JKH.
Commercial Bank was up 10 cents to Rs.273.50 on nearly 0.2 million shares done between Rs.273 and Rs.274.50 while CIC, where there was some state sector buying, gained Rs.4.10 to Rs.134 on nearly 0.3 million shares traded.
Grain Elevators which had posted good results was up Rs.1.70 to Rs.58.30 on 0.5 million shares and Sampath Bank up Rs.2.60 to Rs.273 on 0.1 million shares.
JKH gained Rs.4.80 to close at Rs.298 on 87,200 shares traded between Rs.295 and Rs.300 while Tokyo Cement was up 10 cents to Rs.49.50 on 0.5 million shares, Carsons up Rs.3.10 to Rs.1,005 on 18,500 shares and Piramal Glass up 20 cents to over Rs.4.70 on 3.3 million shares.
NDB and HNB posted small gains on thin volumes while Hayleys closed flat also on small quantities of shares traded.
Dimo announced an interim dividend of Rs.5 per share for 2010/11 XD from November 24 and with payment on December 2.
The Finance Company announced that its EGM on Thursday had been adjourned for November 23 for two reasons – an enjoining order from the High Court relating to resolutions that were due to be taken up at the meeting and the bad weather which made it difficult for shareholders to get to the venue of the meeting at the Fingara Town and Country Club.
source - www.island.lk
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