The Colombo bourse looked up yesterday on block trades in JKH, Ceylon Brewery and Environment Resource Investment (both warrants and ordinary shares) posting a turnover of Rs.1.3 billion, up from the previous day’s Rs.138.4 million with all three indices up - the All Share by 37.78 points (0.69%), the Milanka by 55.07 points (1.10%) and S&P SL20 by 23.80 points (0.80%) with 131 gainers comfortably ahead of 76 losers while 104 counters closed flat.
The block trades accounted for Rs.1.15 billion to yesterday’s turnover with brokers saying that outside these crossings the floor trades were thin.
"The market opened listlessly with turnover at a depressing Rs.60 million by mid morning until the ERI crossings, all three of exactly the same quantity of 23,002,510 took place,’’ a broker said. "Two of these were warrants and the other was ordinary shares."
The warrants (W0006 and W0003) both closed 10 cents up while the ordinary shares were crossed 10 cents below the previous price.
The biggest business volume yesterday was generated by three big parcels of JKH totaling nearly 2.7 million shares closing Rs.4 up at Rs.210 contributing Rs.564.7 million to turnover.
The ERI warrants contributed Rs.115 million and Rs.105.8 million respectively while the ERI shares generated Rs.345 million.
The Brewery parcel of 48,881 shares was crossed at Rs.440, same as the previous close.
On the trading floor, the big business generators were LOLC, JKH, NDB and Asian Hotel Properties with LOLC closing 50 cents up at Rs.50.50 trading between Rs.48.50 and Rs.50.50 contributing Rs.14.2 million to turnover.
Floor trades in JKH saw 64,118 shares changing hands trading between Rs.206.20 and Rs.212 closing Rs.5.50 up at Rs.209.70 generating the second highest turnover of Rs.13.2 million on the floor.
NDB closed Rs.1.40 up at Rs.135 on 92,680 shares done between Rs.133.10 and Rs.135 generating Rs.12.4 million business volume while Asian Hotels closed Rs.3.90 up at Rs.80 on 96,284 shares done between Rs.76 and Rs.82 contributing Rs.7.4 million to the day’s business.
Brokers said that the market looked up a little after the crossings took place but activity outside these block trades was very muted.