Bourse gains sharply driven by blue chips. Best recent single-day gain by ASPI

The Colombo bourse gained sharply yesterday on a turnover of Rs.809.4 million, down from the previous day’s Rs.1.4 billion, with the All Share Price Index posting its recent best single-day rise of 43.86 points (0.07%) while S&P SL20 was up 28.45 points (0.82%) with 161 gainers outpacing 59 losers better than two to one while 103 counters closed flat.

JKH and Commercial Bank continued to be the main market drivers with one broker joking, "ours is a one-and-a-half stock market – JKH being the one and Commercial Bank the other half."

A single crossing of nearly 0.5 million JKH at Rs.234.50 contributed Rs.109.5 million to turnover while Commercial Bank (voting) saw over 0.4 million shares crossed in two parcels at Rs.132 contributing Rs.56.4 million.

Both these counters also generated the biggest floor trades with ComBank (voting) closing Rs.2 up at Rs.134 on nearly 0.5 million shares to top the turnover league at Rs.64.8 million.

JKH followed edging down a marginal 10 cents to close at Rs.234.40 on over 0.2 million shares done between Rs.234 and Rs.234.50 contributing Rs.5 million turnover.

"The blue chips drove up the indices," a broker said. "Most of the floor trades in these counters were done in large parcels."

Other most traded stocks included Hemas up 50 cents to close at Rs.43.50 on nearly 0.8 million shares, Sampath up Rs.1.10 to close at Rs.193 on nearly 0.2 million shares, HNB (non-voting) up 50 cents to close at Rs.127 on over 0.2 million shares and HNB (voting) up Rs.1.80 to close at Rs.157 on nearly 0.2 million shares.

Brokers noted that all most traded counters gained in price with the exception of JKH which edged down 10 cents.

Tokyo (voting) closed 10 cents up at Rs.41.90 on nearly 0.6 million shares, Chevron closed a rupee up at Rs.280 on 76,508 shares and Access closed 50 cents up at Rs.24 on over 0.7 million shares.

Hayleys said in a Stock Exchange filing that Mr. Dhammika Perera is to be appointed co-chairman (non-executive) of the company subject to amendment of its articles of association. He is also being appointed co-chairman of the Kingsbury, where Mr. Mohan Pandithage is executive chairman also subject to amendment of the articles.

Mr. Pandithage, Executive Chairman/CEO of Hayleys whose term ends in May 2016 is to be extended for a further five years from that date.

Central Finance announced a final dividend of Rs. 1.50 per share for 2013/14 subject to shareholder approval at the July 18 AGM. The share will trade XD from July 21 with payment on July 23.
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