Heavy trading in JKH, Anilana & Nation Lanka drives turnover

Turnover surged on the Colombo bourse yesterday topping the two billion rupee mark after some time thanks to some heavy trading in JKH where nearly five million shares were crossed at Rs. 194 yielding a turnover of Rs. 963.3 million, though the two indices gained only marginally.

The market closed posting a turnover of Rs. 2.13 billion, up from the previous day’s Rs. 860.9 million, with the ASPI up 5.11 points (0.07%) and S&P SL20 gaining 3.70 points (0.09%) with 99 gainers ahead of 84 losers while 60 counters closed flat.

"The crossings and the floor trades in JKH accounted for over a billion rupees of the turnover," a broker said. "There were also some big floor trades in Anilana Hotels and Properties owning East coast hotels and Nation Lanka Finance that kept the turnover healthy."

A big shareholder of Anilana had exited while another big shareholder of Nation Lanka had upped his stake, market sources indicated.

Foreigners were heavy on the sell side with sales of Rs. 1.17 billion against purchases of Rs. 389.2 million leading to an outflow of Rs. 786.7 million.

Crossings in NTB, Nation Lanka Finance, JKH and Nestle contributed Rs. 1.34 billion to turnover with 0.28 million NTB done at Rs. 98 (Rs. 27.44 million), 78 million Nation Lanka Finance at Rs. 4 (Rs. 312 million), nearly 4.5 million JKH at Rs. 194 (Rs. 963.3 million) and 20,000 Nestle done at 2,050 (Rs. 41 million).

Anilana Hotels topped the floor trades with 47 million shares done between Rs. 4 and Rs. 5.20 closing 20 cents down at Rs. 4.10 contributing Rs. 189.4 million to turnover. Nation Lanka Finance followed closing 10 cents up at Rs. 4.10 with over 14.2 million shares traded between Rs. 3.90 and Rs. 4.10 generating a turnover of Rs. 57 million. Laugfs Gas was third on the most traded list closing flat at Rs. 39.90 on over 1.3 million shares done between Rs. 39.30 and Rs. 39.90 contributing Rs. 52.9 million to the day’s business volume.

JKH closed Rs. 3.90 up at Rs. 197 on the trading floor on 0.23 million shares done between Rs. 193.50 and Rs. 197 contributing Rs. 44.8 million to turnover while NTB closed 60 cents down at Rs. 97.60 with nearly 0.36 million shares done between Rs. 97.60 and Rs. 98.30 contributing Rs.35.3 million to the day’s turnover.

"The ASPI recovered from early intraday losses to end marginally higher," John Keells Stock Brokers said in a market wrap. "Market turnover crossed the Rs.2bn mark on the back of multiple crossings on JKH and Nation Lanka Finance amounting to slightly under 60% of the day’s turnover."

Diversified Holdings was the most actively traded sector (+0.58%), the report noted.

Sigiriya Village announced a first and final dividend of Rs. 2 for 2014/15 following shareholder approval at July 22 AGM with the share trading XD from July 23 and with payment on Aug. 3.

First and final dividends of Rs. 1.20 from Colombo Investment Trust and Colombo Fort Investments for 2014/15 were also announced following shareholder approval at July 17 AGMs. The shares will trade XD from July 20 with payment on July 28.

Courtesy: The Island 17 June 2015