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The tumble on CSE and foreign outflow continues Trading of JKH warrants ends on Sept. 28 Vote_lcap68%The tumble on CSE and foreign outflow continues Trading of JKH warrants ends on Sept. 28 Vote_rcap 68% [ 178 ]
The tumble on CSE and foreign outflow continues Trading of JKH warrants ends on Sept. 28 Vote_lcap18%The tumble on CSE and foreign outflow continues Trading of JKH warrants ends on Sept. 28 Vote_rcap 18% [ 47 ]
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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » The tumble on CSE and foreign outflow continues Trading of JKH warrants ends on Sept. 28

The tumble on CSE and foreign outflow continues Trading of JKH warrants ends on Sept. 28

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Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

The tumble on the Colombo bourse continued yesterday on a low turnover of Rs. 430.6 million, down from the previous day’s Rs. 599.64, with both indices down – the ASPI by 25.24 points (0.35%) and S&P SL20 by 16.86 points (0.43%) with 117 losers ahead of 78 gainers with 117 counters closing flat.
"Trading was lackluster with foreign investors particularly waiting to see what’ll happen next week when the US Federal Reserve (FED) meets on Sept. 17," a broker said. "JKH announced that their warrants W002 will stop trading on Sept. 28 and a fairly large volume over 1.6 million warrants were sold closing Rs. 4.40 down from the previous close at Rs. 11.10."
The company said in the corporate disclosure announcing the end of trading deadline that warrant holders may convert their warrants to shares at the rate of one warrant per share at a price of Rs. 161.87 per share between Sept. 29 and Nov. 12.
The warrants were issued without charge for each share subscribed at JKH’s last rights issue.
JKH which topped the floor trades yesterday closed Rs. 2.70 down at Rs. 174.60 with slightly over 0.55 million shares done between Rs. 174.60 and Rs. 177.50 with parcels of 73,000 and 51,000 among the trades.
"The ASPI ended lower amid weak turnover levels," John Keells Stock Brokers said in a market report. "Most sectors declined with selected diversified, banking, manufacturing and power energy counters leading turnover with a crossing seen on DIAL."
Foreign participation resulted in a net outflow of Rs. 34.19 million with sales of Rs.79.91 million ahead of purchases of Rs. 45.72 million.               
There was a single block trade of 2.2 million Dialog crossed at Rs. 11.40 in a deal worth Rs. 25.08 million.
Other most traded stock were HNB (voting) closing 10 cents up at Rs. 213 on nearly 0.15 million shares, Textured Jersey closing 40 cents down at Rs. 31.10 on 0.83 million shares, Hayleys up four rupees to Rs. 326.90 on 64,233 shares and Vallibel Power closing flat at nine rupees on 1.88 million shares.
Brokers said that quantities of Hayleys were coming into the market following shares held by its Employees Share Ownership Trust being transferred to employees at a discount to market.
Courtesy: The Island 8 September 2015

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