The Colombo bourse yesterday closed a holiday-shortened week on a positive note with turnover reaching Rs.75.2 million, up from the previous day’s Rs.56.4 million, with both indices gaining sharply – the All Share by 33.30 points (1.97%) and the Milanka by 42.16 points (2.37%) and brokers hopeful that the recent gloom over the market would lift this week.

"The week ended much more positively than it began and we are hoping that it will look up when trading resumes on Monday," Prashan Fernando of Acuity Stockbrokers said.

Lanka Lubricants (Caltex) was the top contributor to turnover yesterday with nearly 0.2 million shares done between Rs.110 and Rs.114.75 with the counter gaining Rs.4.75 to close at Rs.114.75 generating Rs.20.7 million turnover.

A crossing of a big parcel of 155,000 shares at Rs.114.75 was the biggest trade on this counter, brokers said.

"Interest in the banking sector was also evident with some trades, though small, of Commercial Bank, NTB, DFCC and HNB done at higher prices," Fernando of Acuity said.

CF Venture Fund, with nearly 0.6 million shares traded between Rs.10.50 and Rs.11.50, generated the second highest turnover of Rs.6.7 million with the counter up 50 cents to close at Rs.11.50.

Brokers said that there was some interest in this share with a number of trades including one big parcel of 355,800 shares concluded at a price of Rs.11.

JKH, with 69,500 shares done between Rs.63.75 and Rs.65 was up 75 cents to close at Rs.64.25 while SLT gained Rs.2 to close at Rs.38 on 76,000 shares traded between Rs.37 and Rs.38.50.

The People’s Merchant Bank also saw 85,400 shares done between Rs.31.50 and Rs.32.50 gaining Rs.2 to close at Rs.32.50.

Retail interest was evident in some of the plantation counters including Balangoda and Madulsima.

Gainers strongly outpaced losers on the market yesterday by 69 to 21.

JKH announced that it had decided to extend the mandatory offer period for Union Assurance till May 4 as the New Year holidays prevented shareholders from evaluating the offer along with the Independent Advisors Report now in their hands.