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A satisfactory turnover of Rs.342.8 million, down from the previous day’s Rs.490.7 million, was posted while both indices moved up with the All Share gaining 14.85 points (0.62%) and the Milanka up 12.69 points (0.45%).
"There was a lot of movement in property counters with some of them up sharply," Prashan Fernando of DFCC Stockbrokers said. "It was retail driven and not based on fundamentals with some stock going up and coming down sharply at the end of the day."
Other property counters that saw volume included Equity Two, Colombo Fort Investments (CFI), Colombo Fort Land and Buildings (CFLB), CT Land and Property Development (PDL).
JKH continued to show volume with 0.4 million shares done yesterday between Rs.99.50 and Rs.100 losing 25 cents to close at Rs.99.75. Brokers said that there was one crossing of 400,000 shares at a hundred rupee price. The counter generated a turnover of Rs.40.5 million.
Among the property stock, CFI traded between Rs.34 and Rs.43.50 gaining Rs.3.25 to close ate Rs.34 with nearly 0.7 million shares done netting a turnover of Rs.23.7 million.
CFLB fluctuated less sharply between Rs.25 and Rs.26.75 with over 0.5 million shares done gaining 75 cents to close at Rs.25.50.
Equity Two, another Carsons company, gained Rs.1.25 to close at Rs.13.50 with more than 0.8 million shares traded between Rs.13 and Rs.14.50 contributing Rs.11.1 million to turnover.
CT Land, with over 0.2 million shares done between Rs.16.75 and Rs.19 was up Rs.2 to close at Rs.19 while PDL with over 0.1 million shares done between Rs.29.50 and Rs.33.50 gained Rs.1.50 to close at Rs.31.
Fernando of DFCC Stock Brokers also said that Maskeliya which closed flat at Rs.25.75 on a trading range of Rs.25 to Rs.26.25 with nearly 1.1 million shares traded saw considerable retail interest.
"Sizable parcels totaling to around 0.7 million shares were done at a Rs.25 price," he said.
Several dividend announcements were made during the day with Renuka City Hotels announcing a first and final dividend of Rs.5 per share XD from September 30 and payable on October 7.
Among other dividends were Alliance Finance a first and final dividend of Rs.4 per share XD from September 25 and payable on September 29, ACL Plastics an interim of 75 cents per share XD from September 15 with payment on September 25, Kelani Cables an interim of Rs.2.25 per share XD from September 15 with payment on September 25, Lanka Aluminium Industries a final dividend of Rs.1.25 per share XD from September 26 with payment on October 2, Cargo Boat Development Co. Ltd. a first and final of Re.1 per share XD from September 30 and payable on October 7 and Colombo Pharmacy Co. Ltd. a final dividend of Rs.3.75 XD from October 2 with payment on October 8.
