The Colombo Stock Exchange saw both indices dip fairly sharply as a result of downward movement in the prices of both Dialog and SLT with the All

Share Price Index down 17.29 points (0.70%) while the Milanka lost 32.73 points (1.12%) on a turnover of Rs.155 million, up from the previous day’s Rs.143.2 million.

Yesterday’s trading was fuelled mainly by Distilleries where nearly 0.5 million shares were traded, Sierra Cables with nearly 6.4 million shares done and CIC with 0.2 million shares traded.

Brokers reported a dull day with ``nothing much happening’’ on the market.

Other counters that demonstrated some volume included Lanka Ventures (0.4 million shares), LIOC (0.2 million shares), Vallibel (nearly a million shares) and Nawaloka (over 1.1 million shares).

United Motor too gained Rs.4.25 closing at Rs.77.25 with 86,800 shares done between Rs.73.75 and Rs.78.50 generating a turnover of Rs.6.7 million.

Distilleries trading between Rs.87 and Rs.87.25, including a crossing of 130,600 shares at Rs. 87.25, gained 25 cents to close at Rs.87.25 and contributed the day’s larges turnover of Rs.39.3 million. Analysts noted that there have been many crossings around this price level in recent days.

Sierra closed flat at Rs.1.80 on a trading range of Rs.1.80 to Rs.2 generating Rs.11.4 million to turnover.

CIC where the quarterly results were out touched a high of Rs.40 but closed at Rs.38.25 losing a rupee over the previous close.

The day’s biggest gainer was Associated Electrical Corporation (AEC), where 3,600 shares were done between Rs.1,581.25 and Rs.1,695 closing at Rs.1,695 and posting a gain of Rs.47.

AEC was a major seller of AMW in a mega deal early this month.

Regnis too saw a gain of Rs.9.50 with 19,700 shares traded between Rs.60 and Rs.65. The counter closed at Rs.65.