Archives

The Colombo Bourse picked up yesterday with the more sensitive ASPI increasing to 710.2 points from 696.7 and the Milanka to 1,183.1 points from 1,153.7.

The turnover was a moderate Rs. 44.68 million, down from Rs. 61.19 million. Foreign purchases totalled Rs. 12.7 million and sales Rs. 7.6 million. Domestic sales accounted for Rs. 37 million and purchases Rs. 31 million.

Market analysts said that the market picked up mainly due to bargain hunting.

"Most of the shares came to low levels over the last few days and retailers were seen picking shares at attractive prices."

The analysts also said that the statement issued by the LTTE vowing that they are committed to peace and were not pulling out of the ongoing peace process was helpful. While some other analysts said that there should be a limit to a fall of a market and it has to come to an end at some point.

However, they said that the long-term outlook is still good and some institutional investments are needed to boost the market situation.

In yesterday's trading, Vanik Incorp, Talawakelle, Colombo Land and CF Venture became the top five gainers. Heavy trading was seen in Asian Hotels, Distilleries, Telecom, JKH, Aitken Spence and Browns.

Foreign activity was concentrated on the transfer of 27,300 shares of Browns and buying Aitken Spence shares. A net foreign inflow of Rs. 5.9 million was recorded for the day with foreign purchases and sales accounting for 29.2% and 16.7 % of market turnover, a spokesman for Bartleet Mallory Stockbrokers Ltd said.

News | Business | Features | Editorial | Security
Politics | World | Letters | Sports | Obituaries |

Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
Comments and suggestions to :Web Manager