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Dialog and SLT power high roll on CSE
Friday, 1 December 2006 - 7:32 AM SL Time

The Colombo Stock Exchange continued its high roll yesterday with turnover topping Rs.1 billion, down from the previous day`s Rs.2.5 billion and the Milanka Price Index surging by 131.18 points while the All Share was up 66.93 points.

Market capitalization was up by Rs. 20.5 billion.

Heavy trading in Dialog with nearly 4.7 million shares traded and SLT with nearly 4.8 million shares traded powered the upswing with JKH contributing over 25% of yesterday`s market turnover on nearly 1.2 million shares traded.

Both the All Share and Milanka are at all time highs.

`There was both local institutional and retail buying on both Dialog and SLT while retailers were active in ACL where nearly 0.5 million shares were traded,` a broker said.

Foreigners were heavily on the selling side with Rs.266 million sales, mostly on JKH, and just Rs.37 million on purchases.

Hayleys too saw nearly 0.4 million shares done between Rs.129.25 and Rs.135 gaining Rs.1.50 on the VWA to close at Rs.130.75.

Dialog trading between Rs.25.50 and Rs.28 gained Rs.2.25 on the VWA to close at Rs.27.75 while SLT trading between Rs.28.25 and Rs.29.75 gained 50 cents on the VWA to close at Rs.29.

ACL was the top gainer yesterday, up Rs.12.50 on a trading range of Rs.191 to Rs.205 and closing at Rs.201.75.

NDB which accounted for much of Wednesday`s Rs.2.5 billion turnover saw over 0.1 million shares done between Rs.200 and Rs.202 gaining Rs.1.25 on the VWA to close at Rs.201.25.

Dr. Sena Yaddehige was believed to have been a major purchaser of NDB on Wednesday`s trading. Richard Peiris of which Yaddehige is Chairman owns 10% of the bank.

Kelani Cables too gained sharply on over 0.2 million shares traded between Rs.135 and Rs.145 gaining Rs.12.50 on the VWA to close at Rs.141.50.

`Buying today was mostly local,` a broker said. ``Distilleries trading XD attracting considerable domestic interest. 0.5 million shares of this counter were traded between Rs.92 and Rs.97.50 losing Rs.1.50 on the VWA to close at Rs.92.75.``

Brokers said that while JKH contributed substantially in yesterday`s turnover, `there was not much of price movement.`

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