Sri Lankan stocks closed higher on Monday, with market interest focused on NDB Bank Ltd as parent company National Development Bank Ltd continued to boost its stake.
The key Colombo all-share index ended up 0.76 percent, or 9.17 points, at 1,221.85.
Total market turnover of 458.2 million rupees was led by NDB Bank Ltd, which slipped 1.64 percent, or 0.50 rupees, to 30 rupees.
National Development Bank is expected to make a mandatory offer to minority shareholders after raising its stake in the commercial banking unit on Friday to 62 percent from 23 percent.
"There were four block crossings at 31 rupees. They could have had a prior understanding with some of the partners who sold today," said one broker.
NDB gained 0.70 percent, or one rupee, to 144 rupees on about 125 million shares.
The all-share index rose mainly on a small quantity of rarely traded palm oil plantation company Carson Cumberbatch and Co Ltd, which jumped 50 percent, or 4,000 rupees, to 12,000 rupees.
But most blue chips remained range-bound, with the Milanka index of the most highly capitalised and liquid stocks falling 0.85 percent, as political worries over the direction and stability of the island's new government continued to weigh on investor sentiment.
John Keells Holdings Ltd fell 0.74 percent, or 0.75 rupees, to 101 rupees, while Sri Lanka Telecom Ltd, held flat at 16 rupees.
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