Sept 29, 2010 (LBO) - Sri Lankan shares regained some lost ground Wednesday while regulators imposed a price band on two more stocks to curb price volatility, brokers said.
The All Share Price Index closed at 6,929.90, up 84.13 points or 1.23 percent, while the more liquid Milanka index ended at 7,347.78, up 2.11 percent or 151.82 points, according to stock exchange provisional figures.
Turnover was 3.3 billion rupees.
At end of trade, the 10 percent price band was imposed on Eastern Merchants voting and Coco Lanka non-voting shares, the Colombo Stock Exchange said in a statement.
Colombo Pharmacy Company, which was taken over by Environmental Resources Investments (ERI) closed at 2,550.00 rupees, up 265.50 (11.63 percent) with 500 shares traded.
Eastern Merchants closed at 600.00 rupees, up 125.00 (26.32 percent) with 700 shares changing hands, according to stock exchange provisional figures.
"It would help the market participants if there was a bit more transparency on the price bands and regulatory actions," said a market analyst.
"Many companies with severely odd and unexplainable trading patterns seem to have escaped the regulator's net."
MTD Walkers closed at 585.00 rupees, up 23.20 (4.13 percent) with 3,100 shares traded, and Singalanka Standard Chemicals at 220.00 rupees, up 45.00 (25.71 percent) with 500 shares changing hands, brokers said.
source - www.lbo.lk
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