Market picks up again

The market picked up after two days of decline yesterday, albeit marginally while turnover was mainly driven by transactions in Central Finance. CDIC announced a first and final dividend of Rs28.85 a share while Equity Two, the Carson Cumberbatch group real estate company announced a first and final dividend of Rs 0.04 a share.

The ASPI closed up points (+0.16%) at 2646 and the MPI was up by 7 points (+0.23%) to close at 3250. Central Finance (Rs 35.2 million), Royal Ceramics (Rs 24.9 million), Colombo Fort Land & Building (Rs 23.6 million), Kelani Tyres (Rs 21.9 million) and Sri Lanka Telecom (Rs 17.5 million) were the biggest contributors to turnover, which totaled Rs 281.1 million.

The top advancers for the day were Chemenex by 17% to Rs 51.50, Lanka Hospitals by 9% to Rs 18.00, Vanik Incorporated by 8% to Rs 1.40, Browns Beach by 6% to Rs 28.75 and Commercial Leasing by 6% to Rs 103.00.

The decliners for the day were Seylan Merchant (NV) by 14% to Rs 0.60, Tess Agro by 8% to Rs.1.10, Hotel Reefcomber 8% to Rs 1.10, Royal Palms Beach Hotel by 8% to Rs 36.00 and Hapugastenne Plantations 7% to Rs 55.00.

Source: First Guardian Equities