Stock Exchange indices gain

Indices on the Colombo Stock Exchange gained on Wednesday with the ASPI increasing 9 points (+0.4%) to close at 2,381 while the MPI, which tracks the most liquid stocks, increased 8 points (+0.3%) to close at 2,857.

Turnover for the day was Rs 108.3 million, driven by interest in Chevron (Rs 16.7 million) and Associated Motorways (Rs 10.3 million). Chevron ended the day at Rs 105.25 and AMW closed at Rs 165.00

Lanka Tiles (TILE) and Lanka Walltile (LWL), jointly responding to a CSE query, clarified that they were not negotiating to dispose their holdings of 33% and 15% respectively in Parquet Ceylon.

Speculation of such a move drove Parquet Ceylon share prices to close up 18% to Rs 19.50. LWL closed at Rs 81.25 while TILE closed at Rs. 60.25. All three companies are part of the Ceylon Theatres group.

Ceylinco Insurance disclosed to the CSE that it had received Rs 581.5 million worth of applications for its nonvoting share issue as of the 8th of July, with number of shares applied for being at 3.3 million. Ceylinco Insurance was hoping to raise Rs 1.4 billion through an 8.5 million non-voting share issue priced at Rs 175.

Other notable transactions were in Vanik voting and non-voting, up 12.5% to close at 90 cents.

Serendib Hotels non-voting shares declined by 15% to close at Rs 17.00.

First Guardian Equities