Bourse holds its ground posting week’s highest turnover

The Colombo bourse held its ground yesterday posting a turnover of Rs.1.9 billion, the highest for the week, with both indices also moving up marginally – the All Share by 4.22 points (0.20%) and the Milanka by 8.25 points (0.34%) with the trading momentum sustained, brokers said.

JKH continued to hold the limelight with nearly 7.1 million shares traded between Rs.108 and Rs.117.50 gaining Rs.1.75 to close at Rs.114, posting the day’s highest turnover of Rs.807.6 million.

"The market went down for a short time on profit taking but recovered by close of trading," Prashan Fernando of Acuity Stockbrokers said.

He said that there was a lot of profit taking including day trading with investors with substantial appreciations in hand realizing their gains.

In addition to JKH, a large block of Hotel Services was traded yesterday with a single parcel of 13.2 million shares done at a price of Rs.19.

Altogether 14.5 million Hotel Services, owners of the Hotel Ceylon Continental, traded between Rs.16 and Rs.19 gaining 50 cents to close at Rs.16.50 posting a turnover of Rs.293.4 million, the second highest for the day.

NDB dropped a shade with over 1.8 million shares done between Rs.117 and Rs.124 losing 50 cents to close at Rs.119 generating a turnover of Rs.219.5 million.

Dialog also traded in very large quantities with nearly 26 million shares done between Rs.5.50 and Rs.5.75 closing flat at Rs.5.50 contributing Rs.142.8 million to turnover.

Among banking stock, DFCC was up Rs.4.50 to close at Rs.115 on over 0.7 million shares done between Rs.112 and Rs.117 while Commercial Bank lost 75 cents to close at Rs.118.25 on nearly 0.5 million shares done between Rs.115.25 and Rs.120.

HNB gained 50 cents to close at Rs.107.50 on over 0.1 million shares done while Lanka Cement, a favourite retail play, saw over 1.1 million shares traded and closed flat at Rs.14.25.

Aitken Spence announced a final tax-free dividend of Rs.6 per share XD from June 30 with payment on July 9 after the June 29 AGM.

Aitken Spence Hotel Holdings announced a first and final ordinary dividend of 50 cents per share XD from June 30 and payment on July 9 after the June 29 AGM.

CIC announced a final dividend of Re.1 per share XD from July 1 and payment on July 10 after the June 30 AGM.

Ceylon Brewery announced a first and final dividend of Rs.3 per share XD from June 22 and payment on June 30 after the June 19 AGM.

JKH announced a final dividend of Re.1 per share XD from June 1 and payment on June 10.