Market rebounds

THE market rebounded yesterday after a steep decline of the first two days of the week. The All Share Price Index closed at 1,887.32 points an increase of 68.2 per cent and the Milanka Price Index rose by 111.4 to close at 2,435.92 points.

However, analysts said the upward movement was mainly due to the inevitable market correction following the steep decline due to panic selling by investors reacting to the negative news from the North East. foreign investors were actively participating in the trading of fundamentally sound stocks, analysts said.

Over 10.6 million Dialog shares were traded yesterday as the share price moved up from Rs. 15.75 to Rs. 16.

The market capitalisation was Rs. 573 billion which was an increase of Rs. 22 billion. The market turnover was recorded at Rs. 293 million with 19,130,066 shares changing hands.