Bourse declines for ninth day running

*NSB – The Finance issue still hanging fire


The Colombo bourse yesterday closed the week on a losing mode with the market declining for the ninth day running with no resolution of the NSB-The Finance issue – at least on the market.

"Some kind of settlement was much anticipated but nothing happened – in the market anyway," a broker said. "There was speculation that the transaction would be privately reversed."

Trades in JKH, Aitken Spence Hotels and Dialog dominated with a turnover of Rs.346.4 million, down from the previous day’s Rs.493.1 million with both indices down – the All Share by 40.71 points (0.79%) and the Milanka by 27.04 points (0.58%) with 60 gainers strongly outpaced by 143 losers.

There was one crossing of 350,000 Aitken Spence Hotels at a price of Rs.70 with a further 0.23 million shares done on the floor also at Rs.70.

JKH was the day’s biggest business generator with over 0.2 million shares done between Rs.196 and Rs.198 closing 90 cents down at Rs.197 contributing Rs.24.1 million turnover.

DFCC Bank, down Rs.1.80 to close at Rs.118 on 88,702 shares, Ceylon Theatres closing flat at Rs.150 on 63,000 shares, Swarnamahal up 30 cents to close at Rs.8.30 on over 1.1 million shares and PMB up 20 cents to close at Rs.13 on nearly 0.7 million shares were among the business generators.

Haycarb announced a first and final dividend of Rs.5.50 per share following shareholder approval at a June 27 AGM. The share will trade XD from June 28 and payment on July 6.

This counter closed flat yesterday at Rs.160 while The Finance saw 5,519 shares done between Rs.24.50 and Rs.25.90 closing 20 cents up at Rs.25.40.

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