Colombo bourse concluded the session on a negative note on Tuesday amid profit taking in selected stocks.
The positive momentum in the morning session faltered in the mid-day pulling the index down to 7,261.78, with a drop of 22.98 points (-0.3%) while the S&P SL 20 index lost 16.01 points (-0.4%) to close at 4,037.81.
The negative sentiment was reflected in the broad market where out of the 262 counters traded, the losers outweigh the gainers 126 to 86. 50 counters remained unchanged.
Meanwhile, the premier blue-chip John Keells Holdings announced a share subdivision where seven shares will be subdivided into eight shares. Consequently, the JKH warrant excise prices were also amended to reflect the above change. JKH voting share closed at LKR 200.20 (+0.1%) while warrant 22 and warrant 23 closed at LKR 39.50 (-4.6%) and LKR 21.80 (-5.2%) respectively.
The cash-map weakened from 53% to 44%. Seven counters touched 52 week low prices today while five counters touched 52 week high price levels. Price deprecations in blue-chips such as Carsons Cumberbatch (LKR 410.00,-6.8%), Nestle Lanka (LKR 2,228.00,-1.0%) and Distilleries (LKR 276.50, -1.3%) affected the index performances.
The market turnover improved to LKR 1.2bn. The premier banks, namely, Commercial Bank (LKR 348mn), Sampath Bank (LKR 106mn), Hatton National Bank (LKR 76mn) and Seylan Bank's nonvoting (LKR 60mn) made the top contributions to the turnover. These four counters collectively accounted for 50% of the market turnover.
Meanwhile, 2 million shares of Commercial Bank changed hands at LKR 165.00 per share in two off-the-floor deals while 373,145 shares of Sampath Bank was traded at LKR 265.00 per share in a single crossing. The crossings accounted for 36% of the market turnover.
FLC Hydro Power emerged as the star performer today as it touched a 52 week high of LKR 9.10 during the session subsequent to the announcement of the interim dividend of LKR 0.70 per share. The share closed at LKR 8.90, +20.3%.
Subsequent to the announcement of revaluation properties, United Motors share gained notable investor interest and the share touched a high of LKR 106.60 during the session but closed at LKR 105.00 (+3.1%). According to the announcement made, the company will recognize a reevaluation surplus of LKR 1.7bn (LKR 17.2 per share). Furthermore, the company announced a final dividend of LKR 4.00 per share yesterday.
Meanwhile, Textured Jersey will acquire Quenby Lanka Prints (Pvt) Ltd, a leading fabric printer in the country from the current shareholders, Brandix Lanka Ltd and Trust Family Industries Inc, for a consideration of USD 3.5mn (aprox LKRÂ 476mn). The entire consideration is due to be paid out in cash.
Furthermore, Serendib Hotels and Peoples Leasing & Finance announced dividends of LKR 1.00 and LKR 0.50 per share.
Courtesy: Daily News 27 May 2015