2010-02-05 16:50:30

Colombo shares were up on Friday on a strategic transfer of Asia Capital (ACap) with analysts saying that investors were bullish on high valued and mid cap stocks.

Charuka Suchendra, Research Analyst - Asha Phillip noted that the market gained on high turnover and volumes as confident investors pursued both mid and high value stocks while speculators and retailers concentrated on instant gains. “Speculation was focused Environmental Resources (GREG) and its warrants,” he said.

ACap witnessed a strategic transfer amounting to 32.98 million shares, nearly 30 % of its holdings. ACap closed at Rs 10.25, up by 0.75 cents. The All Share increased by 0.24% to end at 3706.72, while the Milanka saw a 0.7% increase to close at 4269.18. The turnover was Rs 1.5 billion. (DEC)