Tuesday, 18 May 2004 |
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Correction at Bourse The Colombo Bourse underwent a correction with profit taking yesterday. The market opened to profit hunters to reap the benefits from the recorded performances during the last few days. The All Share Price Index decreased to 1,306.43 points from 1,321.19 on Friday with the Milanka Price Index declining to 1,983.12 points from 2,024.09 points. The turnover for the day was Rs. 180,176,151. According to stock brokers, the announcement of the peace initiatives coupled with corporate earnings increased investor enthusiasm during the last few days to record significant gains resulting in profit taking. They said the correction was inevitable Marawila Resorts, Blue Diamonds, Colombo Land, Kotagala, SLT and Dock Yard were heavily traded stocks. Royal Palms Beach Hotel and Diesel and Motor Engineering announced 3% second interim and 20 % final dividends. |
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