The Colombo bourse closed virtually flat yesterday on a turnover of Rs.3.34 billion, up from the previous day’s Rs.2.9 billion, with both indices marginally down – the All Share by 1.27 points (0.02%) and the Milanka by 6.72 points (0.11%) with 109 losers outpacing 98 gainers.
Yesterday’s big trades were on PC House, Environment Resource Investments and Vallibel One with unconfirmed speculation of an ``understanding’’ between two of the companies whose shares were traded in large volumes.
"Two of the big crossings took place within seconds of each other triggering the speculation although there was no confirmation," a broker said.
There was a total of 12 crossings yesterday with 3 million Vallibel One crossed at Rs.29 and slightly over 1 million at Rs.28.90.
Other crossings reported were 0.4 million Namunukula at Rs.106, some 160,000 Kegalle at Rs.156, over 3 million SFCL at Rs.40, a parcel of 290,000 LMF at Rs.105, one of 21.1 million PC House at Rs.22 and 4.5 million ERI at Rs.68. Five million ERI warrants were also crossed at Rs.32.60.
Prashan Fernando of Acuity Stockbrokers said that a lot of the day’s activity had followed the recent trend of retail driven speculative play on several counters including Blue Diamonds (both voting and non-voting), Colombo Land, Ceylinco Seylan Developments and Tess Agro.
United Motors saw activity with nearly 0.8 million shares traded gaining Rs.19.20 to close at Rs.177.90 on a trading range of Rs.155.80 to Rs.178. Brokers said that the company was believed to be doing well on vehicle sales to permit holders.
Ascot Holdings too saw some activity gaining Rs.2 to close at Rs.150 on nearly 0.8 million shares sold between Rs.126.30 and Rs.155.
source - www.island.lk
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