Though market turnover recorded at Wednesday’s trading was a ‘fairly healthy’ Rs 110.8 million, the marginal decline in the share values of two of the country’s premier blue chip companies, namely the National Development Bank Ltd (NDB) and John Keells Holdings Ltd (JKH), somewhat released the pressure on the market indices, resulting in the All Share Price Index (ASPI) losing by 1.2 points to close at 617.1 points and the Milanka Price Index (MPI) by 4.6 points to close at 1030.1 points at the end of the day’s trading.

JKH declined by 75 cents to close at Rs 59 on a share volume of 766,300 and NDB by Rs 1.25 to close at 69.75 on a share volume of 601,200. ‘Selling pressure on the part of investors resulted in a drop in market indices,’ a Bartleet Mallory Stockbrokers (BMS) report said.

JKH’s contribution to the day’s turnover was Rs 45.5 million and NDB’s Rs 42 million. The majority of the trades involving JKH and NDB shares were foreign crossings, where both the purchases and the sales were made by foreign funds.

The foreign crossing involving JKH shares was valued at Rs 41 million, and in NDB, the value of the foreign sale in NDB shares, Rs 26.3 million and foreign purchases, Rs 28.7 million. The sources further said that there was not much retail activity witnessed on Wednesday’ , with institutions too maintaining a low profile.

Among the other seemingly significant contributions made to the day’s turnover were Rs four million by Commercial Bank on a share volume of 28,500. Commercial Bank closed at Rs 155, the same price it closed the previous day.

DFCC Bank, Rs 2.6 million on a share volume of 22,600. DFCC closed at Rs 117, a rupee less than the previous day’s closing price. Union Assurance, Rs 1.1 million on a share volume of 35,800. Union Assurance closed at Rs 44, 75 cents more than the previous day’s closing price.

Commercial Bank (non-voting), Rs 1.5 million on a share volume of 15,800.

Commercial Bank closed at Rs 97, the same price it closed at the end of the previous day’s trading. Ceylon Oxygen, Rs 1.4 million (the whole of which were foreign purchases) on a share volume of 18,200. Ceylon Oxygen closed at Rs 80, the same price it closed at the end of the previous day’s trading.

Among some of the major gainers were Ceylon Guardian Investment, gaining by Rs. 14.50 to close at Rs 95 on a share volume of 100. Sunshine Travels, up by Rs 5.25 to close at Rs 16 on a share volume of 100. Ceylon Investments, up by Rs 5 to close at Rs. 55 on a share volume of 100. Tokyo Cement, up by Rs 2 to close at Rs 77 on a share volume of 200. And Hayleys, up by Rs 1.50 to close at Rs 121.50 on a share volume of 1,300.

And, among some of the losers, CIC (non-voting), down by Rs 3 to close at Rs 50 on a share volume of 4,100. Richard Pieris, down by Rs 1.50 to close at Rs 95.50 on a share volume of 4,000 and John Keells Ltd. (JKL), down by a rupee to close at Rs 57 on a share volume of 600.

Among the announcements made on Wednesday were a 15% dividend announcement by Tea Smallholders, with dividend date to be notified. Meanwhile, Ceylon Cold Stores, which earlier announced a dividend payment of 15%, on Wednesday announced that this final dividend payment has been increased to 25% (with dates to be notified), and Watawala Plantations, a 5% first and final dividend, with excluding dividend (XD) date fixed for May 22 and payment date, on June 5. (PA)