Milanka reaches all time high

The Colombo Stock Exchange (CSE) created history yesterday with the All Share Price Index (ASPI) and the Milanka Price Index (MPI) reaching record levels. The ASPI closed the day at 1,865.95 points reaching its highest Point since its introduction in 1985. The MPI, which was introduced in 1999 reached its highest ever point of 2,611.73 points at the end of trading today surpassing its previous high of 2,584.2 points recorded on 31st October 2003.

"Milanka has not shown such a significant increase for the past one and half years although the ASPI recorded all time high quite a few times in the recent past. Some argued that it was because investors were keener on illiquid companies. However, the rise of Milanka index shows that the trend has changed and investors are also keen on highly liquid companies," analysts said.

The MPI moved up by 8.19 points to close at 2583.34 points the previous day. The ASPI moved up by 28.7 points (1.6%) during the days trading while the MPI recorded a growth of 28.4 points (1.1%).

The ASPI has recorded a growth of 359.0 points (23.8%) so far for the year 2005, while the MPI has recorded a growth of 538 points (25.9%) thus Colombo becoming one of the best performing stock markets in the world. The ASPI recorded a growth of 42% in 2004.

The turnover for yesterday was 815.8million. The total turnover at the CSE recorded Rs.1Bn the previous day. Oil Palm was up by 28.8 percent while telecom was up by 3.1 percent. Banks, financial, insurance and plantation sectors also gained.