The Colombo bourse soared for the second consecutive trading day this week on a turnover of Rs.1.5 billion, down from Rs.1.6 billion on Tuesday, with both indices surging – the All Share 106.93 points (5.25%) while the Milanka was up 203.95 points (9.05%).

"This was the sharpest single day gain in the Milanka Index in recent memory with very strong retailing and high net worth buying mainly on the blue chips," Prashan Fernando of Acuity Stockbrokers said.

He noted that there was a Rs. 47 million inflow yesterday against an outflow in the two previous days.

JKH was the most sought after stock with nearly 3.4 million shares traded between Rs.97 and Rs.112 gaining Rs.15.75 to close at Rs.111.50 and generating a turnover of Rs.378.5 million.

A large quantity of Dialog was done mainly in big parcels with a total of nearly 38.6 million shares traded between Rs.5.50 and Rs.6 with the counter closing flat at Rs.5.50.

Some of the big parcels done yesterday were in quantities that ranged from over 1 million shares to nearly 7 million shares, all at a price of Rs.5.50, brokers said.

NDB continued to be sought after with nearly 1.6 million shares done between Rs.101 and Rs.124 gaining Rs.19.50 to close at Rs.117.75 while DFCC, with over 0.8 million shares done between Rs.99 and Rs.114 gained Rs.12.75 to close at Rs.110.

Commercial Bank too with over 0.6 million shares done between Rs.106 and Rs.123 was up Rs.13.25 to close at Rs.115.25.

"There was profit taking and considerable day trading given the sharp upward movement of the prices of several of blue chip stock," Fernando of Acuity said.

Other counters that attracted volume during the day included CIC where nearly 1.3 million shares were done between Rs.40 and Rs.43.75 gaining Rs.4 to close at Rs.43.50 and Sampath Bank where nearly 0.6 million shares were done between Rs.89 and Rs.100 gained Rs.8 to close at Rs.96.50.

Asian Hotel Properties with over 1.4 million shares done closed at Rs.34 and Distilleries where over 0.4 million shares were done gained Rs.10.75 to close at Rs.102 were among counters that showed volume and price increases.