The Colombo bourse closed the trading week yesterday optimistic about further upside with a turnover of Rs.376.8 million, down from the previous day’s Rs.423.6 million, and further sharp upward movement of both indices – the All Share by 35.03 points (1.94%) and the Milanka by 63.64 points (3.34%) with big trades in the NDB contributing a substantial Rs.122.7 million to the day’s business volume.

"Sentiment continued to be very strong when trading closed and it is likely that the uptrend will continue in the coming week with the possibility of negative news small," Prashan Fernando of Acuity Stockbrokers said.

"Retail and institutional activity was evident and some market participants who had been on the sidelines for a long time, even if they didn’t come back, were making inquiries."

NDB saw over 1.3 million shares done between Rs.90 and Rs.95.75 losing 75 cents to close at Rs.93 with three big parcels of 200,000 shares, 500,000 and 466,000 shares all at a Rs.90 price, accounting for the bulk of the trades.

Brokers said that there was foreign selling in this stock on Thursday and it was likely that this continued yesterday as well. There was local high net worth and unit trust interest on the buying side.

Tokyo Cement saw both its voting and non-voting shares trading in fairly large quantities with over 0.2 million voting stock trading between Rs.130 and Rs.135 gaining 25 cents to close at Rs.135.

The non-voting shares, with over 1.4 million shares traded between Rs.9.75 and Rs.10.50, closed flat at Rs.10.25.

Brokers said that there was one 100,000 share parcel of voting stock done half a hour after trading opened and several medium-sized parcels of between 13,000 and 20,000 shares also done.

Where the non-voting shares were concerned, the biggest single parcel for the day was 600,000 shares with another of 200,000 and several between 10,000 and 25,000 also transacted.

JKH continued to gain with nearly 0.4 million shares done between Rs.65.50 and Rs.68.50 gaining Rs.3 to close ate Rs.68. There appeared to be retail interest in the counter with several trades of 10,000 and under and many in the hundreds done yesterday with no very big parcels.

Among the banking stock, Sampath with nearly 0.2 million shares done between Rs.71 and Rs.74 gained Rs.1.50 to close at Rs.72, HNB(X) with nearly 0.2 million shares done between Rs.39 and Rs.40.50 was up a rupee to close at Rs.40, over one million Seylan(X) traded between Rs.6.75 and Rs.7.25 closing flat at Rs.7 and over 0.2 million NTB done between Rs.27.50 and Rs.29.50 gained Rs.2 to close at Rs.29.

Commercial Bank too gained Rs.2 to close at Rs.92 on 73,000 shares, while DFCC was up Rs.1.75 to close at Rs.85 though on a smaller quantity of 28,700 shares.

Distilleries gained Rs.3.50 to close at Rs.78.25 on 85,400 shares.

Balangoda Plantations announced a first and final dividend of 75 cents a share for 2008 with dates to be notified while Environmental Resources (Walker & Greig) announced a rights issue of three for one priced at Rs.20 a share with attached warrants to raise capital for investment opportunities meting the company’s objectives and risk control pressures.