The slump on the Colombo bourse continued for the ninth day running yesterday on a low turnover of Rs. 426.9 million, down from the previous day’s Rs. 499.4 million, with 122 losers way ahead of 63 gainers while 122 counters closed flat.
The one bright spot in an otherwise gloomy scenario was the announcement of a very modest scrip dividend by the Commercial Bank which, in addition to a final cash dividend of Rs. 2 per share will give shareholders one new voting share for every 63.611111 shares held and one non-voting share for every 52.611111 shares held.
``It’s a very small bonus,’’ noted a broker. ``It won’t mean much to the big shareholders while a retailer with a few hundred shares will hardly get anything. Yet we’ve seen a scrip dividend after quite some time.’’
The dates for these dividends were unannounced and are to be notified.
SLT also announced a first and final dividend of 85 cents a share following shareholder approval at an AGM on Apr. 9 with the share trading XD from Apr. 10 and with payment on Apr. 23 while Dockyard announced a first and final dividend of Rs. 4 per share for 2013 XD on Mar. 6 and with payment on Mar. 17.
The CSE is now at its lowest level since Dec. 27 last year and all gains made this year have been wiped out as the foreign sell-off continued, brokers said.
There was a single crossing of JKH, the counter which carried the market on its upward run, with 158,160 shares done at Rs. 209 contributing Rs. 33.1 million to the day’s turnover. JKH was also the most traded stock on the floor, with nearly 0.3 million shares done between Rs. 206 and Rs. 209, closing two rupees down at Rs. 207 contributing Rs. 60 million to turnover.
``The various projections made on the technical charts about at what point the fall in the JKH price would be arrested has gone wrong,’’ a broker said. ``We’re yet to come to that point with various prices for available big blocks being talked off.’’
The big sellers are mainly foreign with high net worth locals and institutional interest on getting what is available at the best possible price, brokers said.
JKH warrants W0023 closed 10 cents down at Rs. 61 on nearly 0.4 million while DFCC closed 80 cents down at Rs. 141.20 on over 0.1 million shares.
Island-26/02/2013
» CCS.N0000 ( Ceylon Cold Stores)
» Sri Lanka plans to allow tourists from August, no mandatory quarantine
» When Will It Be Safe To Invest In The Stock Market Again?
» Dividend Announcements
» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්රතික්ෂේප කළ ගණිතඥයා
» SEYB.N0000 (Seylan Bank PLC)
» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
» The Korean Way !
» In the Meantime Within Our Shores!
» What is Known as Dementia?
» SRI LANKA TELECOM PLC (SLTL.N0000)
» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
» Equinox ( වසන්ත විෂුවය ) !
» COMB.N0000 (Commercial Bank of Ceylon PLC)
» REXP.N0000 (Richard Pieris Exports PLC)
» RICH.N0000 (Richard Pieris and Company PLC)
» Do You Have Computer Vision Syndrome?
» LAXAPANA BATTERIES PLC (LITE.N0000)
» What a Bank Run ?
» 104 Technical trading experiments by HUNTER
» GLAS.N0000 (Piramal Glass Ceylon PLC)
» Cboe Volatility Index
» AHPL.N0000
» TJL.N0000 (Tee Jey Lanka PLC.)
» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
» Bitcoin and Cryptocurrency
» CSD.N0000 (Seylan Developments PLC)
» PLC.N0000 (People's Leasing and Finance PLC)
» Bakery Products ?
» NTB.N0000 (Nations Trust Bank PLC)
» Going South
» When Seagulls Follow the Trawler
» Re-activating
» අපි තමයි හොඳටම කරේ !
» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
» SAMP.N0000 (Sampath Bank PLC)
» APLA.N0000 (ACL Plastics PLC)
» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
» Banks, Finance & Insurance Sector Chart
» VPEL.N0000 (Vallibel Power Erathna PLC)
» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
» WATA - Watawala
» KFP.N0000(Keels Food Products PLC)
» Capital Trust Broker in difficulty?
» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
» What Industry Would You Choose to Focus?
» Should I Stick Around, or Should I Follow Others' Lead?