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| Tuesday, 19 August 2003 |
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Foreign buying boosts Bourse Foreign buying into Richard Pieris and JKH shares put the Colombo Bourse on a sound footing with a record turnover of Rs. 711.3 million yesterday. The ASPI increased to 1,090.1 points from 1,080.8 and the Milanka index to 2,131.1 points from 2,098.8. Stockbrokers said that it was very encouraging to see foreign investors taking part in activities in a positive manner. A UK based fund, Ariasaig purchased 2.9 million shares of Richard Pieris at Rs. 140 per share, contributing the most to yesterday's turnover. Thus, it became the largest transaction for the day. Richard Pieris' shares executed by Asia Securities increased by Rs. 11.25. JKH shares also contributed over Rs. 75 million to the total turnover. A parcel of 674,400 shares of JKH was also sold contributing over Rs. 75 million of which Rs. 62 million came through foreign transactions. In yesterday's trading, domestic purchases totalled Rs. 237.8 million and foreign purchases Rs. 471.38 million. Commenting on this success, stock analysts said that investors feel that the peace talks would get back on the right track soon, following the recent improvements in the peace process. "This is why the investors are looking at the shares of fundamentally good companies," they said. Among the heavily traded stocks were Asia Capital, Asian Hotels, Caltex, Distilleries, Grain Elevators, Hapugastenna, JKH, Kahawatte, Kelani Valley, Merchant Bank, Nations Trust, NDB Bank, Richard Pieris, Telecom and Trans Asia. The top five gainers were Asia Capital, Udapussellawa, Kelani Cables, Kahawatte and CIT. |
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