Sri Lanka Telecom continued to hold the limelight in Colombo Stock Exchange yesterday with 7.9 million shares done at a Rs.49 price generating Rs.388 million to turnover, brokers said.

"The Stock Exchange was informed by Asia Securities that Global Telecommunications Holdings N.V. (GTH) that bought the NTT stake in SLT that they were Wednesday’s buyers of a large quantity of several million shares at the Rs.49 price," Prashan Fernando of DFCC Stockbrokers said.

A 1.7% stake in the company changed hands on Wednesday, brokers said.

Given that yesterday’s purchases too were all foreign, GTH was believed to be the buyer of these shares as well although there was no hard confirmation yet from the buyer’s brokers.

Yesterday’s turnover at Rs.707.7 million was below the previous day’s Rs.1.78 billion mainly on SLT shares.

Both indices closed up substantially with the All Share gaining 24.08 points (0.91%) while the Milanka was up; 30.02 points (0.90%).

Brokers and analysts said that it made sense for GTH which is making a mandatory offer for SLT shares to buy up whatever is available in the market below the Rs.50.50 offer price.

Retail interest in plantations continued with quantities done on Madulsima (over 0.6 million shares), up Rs.2.25 to close at Rs.22.75, Balangoda (over 0.3 million shares), up Rs.1.50 to close at Rs.39.25, Namunukula (over 0.2 million shares), up Rs.1.25 to close at Rs.46.75, Maskeliya (over 0.3 million shares) up Re.1 to close at Rs.29.75 and Kotagala (over 0.1 million shares), closing flat at Rs.70.

Agalawatte also saw nearly 0.2 million shares done gaining Rs.2 to close at Rs.43.

The NDB was yesterday’s second highest turnover generator with nearly 0.3million shares done between Rs.172 and Rs.174 gaining Rs.2.50 to close at Rs.174 generating Rs.51 million to turnover. Most of this quantity was crossed at Rs.174, DFCC’s Fernando said.

Hayleys too saw 0.2 million shares done between Rs.97.50 and Rs.98 gaining 50 cents to close at Rs.98 with 200,000 of these shares crossed at Rs.97.50.

JKH also saw nearly 0.2 million shares done between Rs.118 and Rs.120 closing flat at Rs.119 and generating Rs.18.1 million to turnover. Hotel Services lost Rs.2 trading flat at Rs.138 on over 0.1 million shares concluded yesterday.

Other counters that showed volume included Overseas Realty where nearly 0.8 million shares were done between Rs.14.25 and Rs.15 gaining 50 cents to close at Rs.14.50.