The market speculated that the Sri Lanka Insurance Corporation (SLIC) was the big seller of Spence yesterday with over a million shares done between Rs.2,500 and Rs.2,745.30 gaining Rs.249.50 to close at Rs.2,745.30.
One big parcel of 900,t000 Spence was done at Rs.2,700 while the rest of the trades were small quantities of a maximum of 25,000 shares. Most of the trades of the larger parcels of over a thousand going up to 25,000 were all done at the Rs.2,700 price.
The market speculated that Harry Jayawardena related companies were the buyers although there was no confirmation of either the buyer or seller.
The indices yesterday closed in opposite directions with the All Share Price Index up 26.45 points (0.45%) and the Milanka down 1.74 points (0.03%) with 95 gainers ahead of 80 losers.
"The trading was spectacular in turnover terms largely on account of Aitken Spence," Asmath Iqbal of John Keells Stockbrokers said. "As much as Rs.2.8 billion of the day’s business volumes came off Spence."
John Keells Holdings divested a further 3% of Keells Hotels where nearly 39.9 million shares were done between Rs.21 and Rs.21.90 gaining 30 cents to close at Rs.21.70.
Brokers said that there were 16 crossings at a price of Rs.21 indicating that JKH which, while retaining control, is continuing to sell down on Keells Hotels, where a similar quantity had been sold some weeks ago.
``They seem to have found that many different buyers take quantities on offer,’’ a broker said.
Distilleries was the other big business generator with nearly 2.4 million shares done between Rs.150.60 and Rs.155 gaining a rupee to close at Rs.153 with speculation that the Insurance Corporation was the seller here too. SLIC has been selling down on Distilleries for some time.
Sampath Bank was a big gainer moving up Rs.20.10 to close at Rs.410 on nearly 0.3 million shares done between Rs.390 and Rs.411.
Other stocks that showed volume included Coco (1.9 million shares), Grain Elevators (1.6 million shares), Hemas (1.6 million shares) and Tokyo X (nearly 1.5 million shares).
Ceylon Leather rights gained a hefty Rs.142.40 to close at Rs.209 on nearly 0.2 million traded between Rs.152.10 and Rs.260.
LOLC was up a sharp Rs.59.80 to close at Rs.980 on 57,400 shares traded between Rs.930 and Rs.989 while Ahungalla was up Rs.31.10 to Rs.698 on 74,200 shares.
Aitken Spence announced an EGM to consider a resolution for the sub-division of shares with holding at close of trading on October 5 to be split.
Industrial Asphalt announced a first and final dividend of Rs.2.50 per share for 2009/10 with an AGM on September 29, XD from September 30 and payment on October 8.
Singer (Sri Lanka) announced a one-rupee interim dividend for 2010, XD September 16 and payment September 28.
source - www.island.lk
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