HEAVY demand for CRH shares continued to be the dominant feature of the Irish market which closed up almost another one per cent and is now little more than 40 points off its all time high of early June.

The demand for CRH is being driven by a view that the share has underperformed its sector and yesterday the shares dealt up 15p to 625p, a long way off the 550p of a few weeks ago and not far off the all time high of 652p. But there were signs that the CRH rally may be running out of steam with some offers at yesterday's closing price of 625p.

Profits and earnings upgrades alter the bumper interim figures resulted in Irish Permanent, jumping 8p to an all time high of 410p. Goodbody has increased its 1996 profit forecasts for the group from £46.5 million to £48 million and the 1997 forecast up from £50.1 million to £54.4 million.

Elsewhere among the leaders, there was little interest in the larger financial stocks, with Bank of Ireland unchanged on 452p and AIB down 1/2p on 349 1/2p. Smurfit was 2p firmer on 170p.

Avonmore was 1p firmer on 146p after good first half results but Golden Vale continued to weaken ahead of its own results in a few weeks, closing down 1p on 58p.

Selected second liners were firmer, with Clondalkin up 7 1/2p on 500p, while Crean gained 2 1/2p 19 207 1/2p as it emerged that reclusive investor Moray International has been a steady buyer of the "shares over the summer. Since the middle of May, Moray has increased its stake in Crean by 1.6 million shares to 5.3 million and is now the second biggest institutional shareholder with a 12 per cent stake.

A flurry of trading saw Jurys gain 10p to 290p, although Jones went against the trend and lost 15p to 180p. Tullow gained 1 1/2p to 105 1/2p, although some of the steam seems to have gone out the share in London where it closed down 7/8p on 108 7/8p as almost two million shares traded.