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Bourse continues upward trend for third day

The Colombo Bourse continued its upward trend for the third day of the week with the ASPI jumping to 793.4 points from 787.6 and the Milanka index to 1,348 points from 1,336.10.

Investors remained confident about the market resulting in another busy and successful day of trading, the stockbrokers said. The day's turnover was Rs 121.7 million, down from 188.7 the previous day. Although the day's turnover was down by 35%, market turnover for the day topped the Rs. 100 million mark.

Buying interest was still present in all sectors particularly in the plantations sector. Large volumes of JKH, Telecom, Distilleris, Agalawatte, NDB,Kelani Valley, Hayleys and Aitken Spence were among the main stocks that changed hands in the course of the day.

With locals dominating the market foreign activity remained quiet. This resulted in foreign purchases and sales accounting for 5.7% and 6.45% of the market turnover. A net foreign outflow of Rs.0.8 million was recorded for the day.

Foreign buying was seen at JKH and Caltex Lubricants while there was foreign selling in Caltex, JKH and Distilleries. The top five gainers were Parquet, CFI, Ferntea Ltd, Lanka Aluminium and C.W.Mackie and Co.

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