The Colombo bourse yesterday posted what brokers called "a terrific day" with turnover topping Rs.1.5 billion, up from the previous day’s Rs.1.29 billion and both indices gaining substantially – the All share by 59.26 points (2.05%) while the Milanka was up 62.93 points (1.95%).

As on the previous day, advancers strongly outpaced decliners by 108 to 40, according to the CSE scoreboard. The exchange announced that market capitalization on the bourse was at a record high of Rs. 942.6 billion bettering the previous best of Rs. 938.6 billion recorded in Feb. 2007.

"We had another excellent day with the Rs.1.5 billion turnover a recent high," Prashan Fernando of Acuity Stockbrokers said. "There was very strong buying on all blue chips."

He said that there was retail interest in Pan Asia Bank and in Dialog Telekom with Pan Asia seeing nearly 1.6 million shares done between Rs.16 and Rs.17 gaining 50 cents to close at Rs.16.25 while Dialog closed flat at Rs.6 with 3.7 million shares traded between Rs.6 and Rs.6.25.

The Hemas Power IPO closed on the opening day over-subscribed at Rs.20 per share. Analysts said that over-subscription of this IPO and that of the Namal Acuity Value Fund reflected the current strong performance on the bourse.

JKH continued to be the biggest turnover generator with nearly 1.5 million shares done between Rs.150 and Rs.157 gaining Rs.4.50 to close at Rs.154 contributing Rs.226.3 million to turnover.

Ceylon Investments, one of the Carson group’s equity investment vehicles, saw nearly 0.9 million shares traded between Rs.168 and Rs.187 closing Rs.3.25 down at Rs.168 generating the day’s second biggest turnover of Rs.150.3 million.

Ceylon Guardian, parent company of Ceylon Investments, was up Rs.15 to Rs.340 on nearly 0.2 million shares traded between Rs.3.25 and Rs.366. The largest parcel of Guardian traded yesterday was 95,000 shares at a price of Rs.360.

Brokers said there was a big crossing of nearly 0.6 million shares of Ceylon Investments at a price of Rs.187 and a second of nearly 0.2 million shares also at the same price.

With a buyback offer from the company at Rs.189 pending, analysts were puzzled by the trades but pointed out that the buyback covers only 20% of the issued capital of Ceylon Investments and the price may have been right for a seller.

Commercial Bank continued to gain among banking stock with the share up to close at Rs.175 on over 0.7 million shares traded while DFCC Bank was up Rs.5.75 to close at Rs.155 on over 0.3 million shares done.

The NDB too continued its strong upward course gaining Rs.11 to close at Rs.199.50 on nearly 0.2 million shares done between Rs.190 and Rs.200 while Sampath was up Rs.5 to Rs.177 on nearly 0.2 million shares traded between Rs.171 and Rs.177.