The Colombo bourse was yesterday unable to sustain Tuesday’s momentum on the back of the IMF announcement of US$ 2.5 billion standby facility but brokers said that both indices were up and turnover was a satisfactory Rs.657.6 million, down from the previous day’s Rs.1 billion.

The All Share Price Index closed 11.71 points up (0.47%) while the Milanka gained 24.55 points (0.89%) with continuing interest in blue chips including JKH, Distilleries and the NDB.

"Investor interest in the market remains although it was not as strong as on Tuesday," Prashan Fernando of Acuity Stockbrokers said. "Trading during the day began much stronger but eased off after the early morning rush."

Foreign sales in JKH were evident with nearly 1.1 million shares traded between Rs.134.75 and Rs.137.50 with the counter losing 50 cents to close at Rs.135.50.

Lanka Cement, a strong retail play for the past several days, continued to gain added momentum with the share closing Rs.4 up at Rs.37 on a trading range of Rs.34 to Rs.37 on over 1.9 million shares done during the day.

JKH contributed Rs.145.1 million to turnover, Lanka Cement 71.2 million and Distilleries, where 0.5 million shares were done between Rs.85 and Rs.89.75, losing a rupee to close at Rs.87, generated Rs.44.1 million.

Brokers said that there was a crossing of 500,000 Distilleries at a price of Rs.88.

Overseas Realty attracted a lot of retail activity with over 1.5 million shares done between Rs.13.75 and Rs.15 with the counter gaining 75 cents to close at Rs.14.75.

There was continuing interest in the NDB which gained Rs.1.75 to close at Rs.163 on over 0.2 million shares done between Rs.161 and Rs.164.

Aitken Spence gained Rs.9.75 to close at Rs.639.75 on 33,500 shares done between Rs.630 and Rs.639.75 while Ceylinco Insurance closed flat at Rs.200 on 0.1 million shares.

Commercial Bank gained a rupee to close at Rs.139.50 on over 0.1 million shares while Tokyo Cement (non-voting) edged down 25 cents on nearly 0.8 million shares traded between Rs.14 and Rs.14.75 to close at Rs.14.25.

Pan Asia Bank which had been attracting considerable activity recently lost 50 cents to close at Rs.16 on a trading range of Rs.15.75 to Rs.16.50 on nearly 0.7 million shares while DFCC Bank gained Rs.1.25 to close at Rs139.25 on 66,500 shares traded between Rs.138 and Rs.140.

Among other banking stock, Sampath was down Rs.1.50 to close at Rs.110.50 on 83,800 shares and HNB up 75 cents to close at Rs.123 on 59,000 shares while its non-voting share closed flat at Rs.53 on nearly 0.2 million shares.

The Hilton owners, Hotel Developers which had been gaining sharply earlier this week, lost Rs.9.75 to close at Rs.130 on 63,000 shares traded between Rs.130 and Rs.140.