The Colombo bourse did not sustain its previous momentum yesterday with both indices losing a little ground although turnover topped the billion rupee mark at Rs1.3 billion, down from the previous day’s Rs1.4 billion, with JKH continuing to be the major market driver contributing nearly a third of the day’s business volume.

The All Share Price Index lost 14.82 points (0.45 percent) while the Milanka declined 12.69 points (0.34 percent) with 95 decliners ahead of 47 advancers during the day’s trading.

"The market continued to fly during early trading with JKH hitting a peak of Rs180 but declined thereafter to close at Rs170 with several other counters following suit," Prashan Fernando of Acuity Stockbrokers said.

Nearly 2.3 million JKH traded between Rs169.50 and Rs180 losing Rs2 to close at Rs170 generating a turnover of Rs384.8 million with two big crossings, one of a million shares and the other of 0.5 million shares done at a price of Rs170.

Next to JKH, Asian Hotel Properties with over 3.2 million shares done between Rs88 and Rs97.75, closing Rs2 up at Rs90, was the other major business generator contributing Rs289.9 million to turnover.

Aitken Spence which lost Rs14.25 to close at Rs1,149 saw nearly 0.1 million shares traded between Rs1,100 and Rs1,170 generating Rs112.7 million turnover.

HNB and Lion Brewery too showed quantity with both counters gaining – HNB with over 0.6 million shares traded between Rs165 and Rs168 up Rs1.50 to close at Rs168 and Lion up 25 cents to close at Rs72 on 0.6 million shares traded between Rs70 and Rs73.

Among the high flyers that lost ground yesterday were Carsons, down Rs13.50 to Rs420 on 46,700 shares, DFCC Bank, down Rs2 to Rs163 on 86,000 shares and Chevron Lubricants, down Rs2 to Rs144.50 on 90,000 shares.

Renuka Holdings announced the dates for its previously announced five for one sub-division of shares. Shares held at the end of trading on January 18 will be sub-divided with dealings suspended between Jan 19 and Jan 25 (both days inclusive) and trading commencing on Jan 26.

Central Finance announced a first and final dividend of Rs1.25 for 2009/10 XD from January 6 and payment on Jan 15 while Commercial Development announced an interim dividend of Rs.2 per share for 2009 XD from Jan 5 with payment on Jan 13.