Sri Lanka Insurance Corporation (SLIC) was speculated to have picked up the bulk of 2.5 million LOLC shares traded for Rs. 1 billion yesterday.

LOLC saw 2.58 million of its shares changing hands via 1,856 trades for Rs. 1.06 billion. It closed at Rs. 401.75, down 4%. 

A block of 130,813 shares was done at Rs. 415 each and another 100,101 at Rs. 415.25 each. 

Prior to that, LOLC was done at Rs. 419 and Rs. 418 each. 

Stock market turns negative on investor disappointment