Apr 26, Colombo: The indices remained volatile this week, with the market gaining only on Wednesday. Activity stood at high end amidst heavy trading on selective counters.

The All Share Price Index (ASPI) plummeted 20.19 points or 0.76 per cent to close the week at 2651.64, while Milanka Price Index (MPI) shed 65.69 points or 1.96 per cent to end the week at 3283.25. Turnover for the week stood at Rs.5897.5 million, reflecting a daily average of Rs.1179.5 million. However, A greater proportion of week’s turnover came from Monday’s transactions.

Monday’s turnover registered a whopping Rs.3.5 billion, backed by a string of crossings on telecom giant Sri Lanka Telecom, totaling 50.3 million shares changing hands at prices between Rs.49.00 and Rs.49.75. In total for the week 52.9 million SLT shares changed hands contributing massive Rs.2.6 billion to the weekly turnover. Foreigners were more prominent on the buying side bringing the net inflow for the week to Rs.886.5 million.

Meanwhile, banking counter Development Finance Corporation of Ceylon (DFCC) too saw a block deal of 375,000 shares at Rs.127.00 on Monday. Heightened interest on plantation sector stocks continued from last week, and Kegalle Plantations saw two crossings on Monday totaling 530,000 shares changing hands at Rs.65.00.

Market heavyweight Dialog Telekom demanded higher interest on Tuesday, with 10 parcels totaling 50.2 million shares changing hands at a flat price of Rs.16.50. A total of 53.9 million Dialog shares traded during the week, within a narrow range of Rs.16.25 and Rs.17.25.

East West Properties Ltd. dominated Wednesday’s turnover after two sizable blocks amounting 2.2 million shares changed hands at a flat price of Rs.11.00. Meanwhile, Hotel Services Ceylon Ltdsaw a block deal of 211,400 shares at Rs.138.00 on the same day, while another 1.59 million shares changed hands in a single parcel on Friday at the same price. Heightened interest on non voting shares of Tokyo Cement Company pushed up Thursday’s activity trading a block of 4.22 million shares at a flat price of Rs.15.00. Ceylinco Insurance was in demand on the same day, with the counter witnessing two block deals totaling 177,400 shares at Rs.210.00 GLAS topped volume wise on Friday backed by a sizable block deal of 7 million shares trading at a flat price of Rs.2.60. Kotmale Holdings too saw a parcel of 1.88 million shares been traded at Rs.10.50.