The big business generators were Laugfs Gas, both voting and non-voting, Richard Pieris, Pan Asia Power which began trading yesterday, Environment Resource Investments and Grain Elevators.
Useful contributions were also made by Sampath Bank, Odel, NDB, Commercial Bank and JKH.
"Retailers drove the market upwards and the expectations are that this trend will continue into next week," Prashan Fernando of Acuity Stockbrokers said. "While much of the business was on second tier stock, some of the big ones like Sampath, NDB and Commercial Bank also moved."
Fernando noted that decliners were relatively few and far between.
Laugfs continued its upward run generating the day’s top turnover of Rs.392.1 million with nearly 11.2 million shares traded between Rs.31.50 and Rs.37 gaining Rs.6.30 to close at Rs.37 for the voting shares. The non-voting shares too were up Rs.5.30 to close at Rs.30 on 7.3 million shares done between Rs.25.90 and Rs.30.50.
Richard Pieris closed 20 cents up at Rs.13.40 with nearly 27.1 million shares done between Rs.13.30 and Rs.14.10 while Pan Asia Power rose 60 cents above its Rs.3 issue price to close at Rs.3.60 on 63.3 million shares traded between Rs.3.50 and Rs.4.
ERI was up a substantial Rs.13.90 to close at Rs.99.30 on over 1.9 million shares traded between Rs.87.50 and Rs.99.80. Analysts attributed part of the interest in the stock was to a news report that its parent company had done well overseas.
Among the chicken stock, Grain Elevators gained while Three Acres and Bairaha declined – Three Acres by 20 cents to Rs.105 on 0.5 million shares done between Rs.101.50 and Rs.115 and Bairaha by Rs.20.30 to Rs.410 on over 0.1 million shares done between Rs.405 and Rs.421.50.
Analysts said that some foreign outflow has been noted in recent days but there was substantial domestic interest. They said that foreign buying generally comes late in January after fund managers return from vacation and take decisions on allocations to various markets.
source - www.island.lk
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