(Yicai Global) Jan. 23 -- Suppliers of charging piles for electric vehicles surged in afternoon trading despite markets ending the day almost on par with the morning open as trading volumes sank for the third straight day.

The Shanghai Composite Index closed up just 0.05 percent at 2,581.00, with CNY105 billion (USD15.5 billion) trading hands, some CNY17.8 billion less than yesterday. The Shenzhen Composite Index finished at 7,523.77, up 0.09 percent after investors traded CNY138.8 billion worth of shares. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, closed down 0.09 percent at 1,251.13, with a trading volume of CNY42.1 billion.

Charging pile suppliers surged sharply after a research report from Guosheng Securities suggested the industry would benefit from financial support offered by the local government. Beijing Dynamic Power [SHA:600405] led the sector, hitting the 10 percent limit up to finish at CNY5.01 (74 US cents) a share. Inventronics Hangzhou [SHE:300582] also gained 9.98 percent to reach CNY13.34 (USD1.97).

Other top performing sectors included building materials, agriculture and mining, which gained 1.34 percent, 1.21 percent and 0.97 percent. Environmental management and hotel operators were the biggest losers.

Editor: James Boynton