JKH dominates trading

JKH dominated the day's trade with large blocks changing hands, while ACL saw investors selling out after the share split and investors also chased two major tea plantations boosting yesterday's turnover, though the market came down marginally.

JKH saw over 3 million shares crossing at Rs. 120, ending the day at Rs. 119.75. ACL Cables, which doubled the number of shares by a 2 for 1 split, lost ground on commencement of trading. Over 2 million shares of Seylan Bank (non-voting) and shares in SLT boosted the day's turnover to Rs. 617 million.

Colombo Dockyards which has seen substantial business in building small ships announced a 1 for a 20 reserve capitalisations, utilising retained earnings at the rate of Rs. 10 a share. The share closed up at Rs. 63.

The ASPI declined by 1 point (-0.05%) to close at 2548, while the MPI declined by 13 points (-0.41%) to 3177. JKH (Rs. 389.6 million), SLT (Rs. 87.8 million), Seylan Bank non-voting (Rs. 22.7 million), Maskeliya Plantations (Rs. 8.4 million) and Talawakelle Plantations (Rs. 7.2 million) were the biggest contributors to turnover for the day.

The top advancers for the day were JL Morrison's by 19% to Rs. 274.25, Colombo Pharmacy by 14% to Rs. 236, Seylan Merchant Leasing by 13% to Rs. 17, Bairaha Farms by 11% to Rs. 17.75 and York Arcade Holdings by 9% to Rs. 14.50.

The decliners for the day were Associated Hotels by 22% to Rs. 46, ACL Cables 13% to Rs. 45.25, Asiri Surgical (Rights) by 12% to Rs 0.70, MTD Walkers by 11% to Rs. 68 and Gestetner Ceylon by 7% to Rs 50.

Source: First Guardian Equities

www.firstguardianequities.com