Indices gain ahead of election

Just a day ahead the crucial Presidential election, the market recorded strong performance with both indices increasing sharply.

The All Share Price Index (ASPI) which showed a declining trend during last week and on Monday increased sharply by 116 points to close at 2551.41 points.

The Milanka Price Index (MPI) closed at 3374 points recording an increase of 152 points.

Yesterday's turnover was Rs. 1.35 billion and the market capitalisation was Rs. 772 billion which is an increase of Rs. 35 billion compared to Monday.

Analysts said that investor interest in blue chips was very high yesterday. Foreign investors have been the net sellers.

Angelo Ranasinghe of Bartleet Mallory Stock Brokers said that the downward trend during the last few days changed positively yesterday as there was an inevitable market correction. He said the positive sentiment could continue today as well and the investors should not panic whatever the outcome of the election.