But brokers said that the selling pressure seen in the past few days was absent and the market seemed much more stable although the All Share was marginally down.
A crossing in Central Finance of 575,000 shares at the previous closing price of Rs.135 in a deal worth Rs.77.6 million supported turnover with JKH creeping up 90 cents to close at Rs.180.90 on nearly 0.2 million shares done between 180.20 and 181.
Commercial Bank (non-voting) closed flat at Rs.74.80 on nearly 0.2 million shares done between Rs. 74 and Rs. 74.90 while Panasian Power which announced a dividend of 15 cents per share and said that it was buying another small hydropower producer closed 20 cents up at Rs.2.40 on over 3.8 million shares done between Rs. 2.20 and Rs.2.50.
In a Stock Exchange filing Panasian Power said that it had accepted the offer made by Padiyapelella Hydro Power (Pvt) Limited to acquire 90% of that company at Rs.910 million based on a valuation done by the NDB subject to approval by shareholders at a forthcoming EGM.Padiyapelella is building a 3.6 MW plant nearing completion and holds a license to develop an additional 3 MW of hydropower.
Other blue chips that gained yesterday and showed some volume in the context of the day’s turnover included Cargills up Rs.1.50 to close at Rs.147 on 45,004 shares and Sampath up Rs.5.10 to close at Rs.158 on 22,213 shares. Carsons closed flat at Rs.476 on 10,416 shares.
United Motors was down Rs.1.60 to close at Rs.73.30 on 73,750 shares while Aitken Spence was down 10 cents to close at Rs.109 on 48,474 shares.
Bairaha Farms closed 60 cents down at Rs.112 on 41,243 shares.