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| Wednesday, 4 June 2003 |
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ASPI reaches six-year high to 860 levels Strategic buying dominated the Colombo Bourse activities yesterday as the ASPI once again got close to a six-year high after 869.7 points on July 31, 1997. The ASPI reached 860.4 points up from 854.4 points the previous day and the Milanka index also jumped to 1,533.1 points from 1,521.2 points. The sale of 1.1 million shares of JKH was the main activity of the day. JKH which posted record high profits of Rs. 1.3 billion for the financial year ended March 31, 2003 was the cynosure of activities on the market, Stock brokers said. Stockbrokers said that the stock market has faced heavy upward resistance at 860 levels over the last nine months. "We feel a positive response from next week's donor conference could enable the indices to pass this psychological barrier," Hasitha Premarathne of HNB Stockbrokers said. Janashakthi bought another stake of NDB at prices ranging from Rs. 96 to Rs. 97 to secure 12.5% of the NDB. Thus, Janashakthi becomes the largest single owner of shareholder of the NDB after the 30% stake owned by several Government institutions. Stock brokers said that Janashakthi may receive a seat on the NDB Board following their securing a 12.5% stake of the institution. The top gainers Printcare, Beruwela Walk Inn, Stafford, Samson Internat and Eden Hotel Lanka. |
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