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| Saturday, 16 October 2004 |
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Records tumble again at Colombo Bourse The All Share Price Index (ASPI) of the Colombo Stock Exchange created history again yesterday by recording its highest ever point surpassing the highest point recorded on Thursday. The bull run on the hotel sector is continuing to dominate the market. The ASPI which started at 1492.2 points closed at 1500.9 points moving up by 8.7 points, closing above 1500 points for the first time in history. The Milanka Price Index (MPI) which started at 2151.3 points closed at 2148.7 points moving down 2.6 points. Bartleet StockBrokers said that shares worth of 1.17 million belonging to Royal Ceramics were heavily traded as high as Rs. 34.75 per share. Investors focused on fundamentally sound stocks and speculative shares in the market. "Investors are basically keeping to market fundamentals and it is evident in other international markets too despite the surge in oil prices in the world market and other macro economic hiccups. Those sentiments have well factored into local and international markets. Ultimately it is the earning of the companies and Sri Lanka is experiencing a favourable scenario in this regard," Bartleet StockBrokers said. A total Rs. 228.5 million turnover was recorded. The Manufacturing and Hotels and Travels sectors accounted for more than 56 per cent of the total turnover. A total of 13 million shares was traded during the day with a transaction volume of 4,308. Foreign investors continued to be net sellers with purchases of Rs. 7.5 million and sales of Rs. 31.1 million. Diversified, Construction and Engineering, Investment Trust and Manufacturing sectors recorded significant gains while Oil Palm, Footwear and Textile and Plantations sectors recorded negative growth. Lankem Developments, ACME Printing, Carson Cumberbatch, Soy Foods and Mercantile Leasing were among the top gainers during the day while Vanik (Voting and Non voting), Udapussellawa, Alufab and Radiant Gems were among the top losers. |
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