The indices closed up on Friday at the close of the week with the turnover increasing to 4.5 billion due to a large parcel of 45 million Agalawatte plantations shares being crossed at Rs 50 contributing a modest 2.2 billion to turnover. The consolidation is getting stronger with the volume increasing on selected stocks that will have good hedge against the devaluation and cost increases and inflation. The continuous inflow of over a billion rupees in foreign buying for the past three weeks is also an encouraging sign . This week is the last week of trading before the end of the quarter and more importantly the year end for most corporates other than the Banks, hence the expectation is the consolidation and a little window dressing too for a possibly best ever year for most companies listed.
