Market recovers with indices moving up sharply

HEAVY GAINS: Heavy buying interest in Sri Lanka Telecom (SLT) shares helped the market to considerably recover from the setback it experienced during the last week.

The All Share Price Index (ASPI) gained 69.18 points and the Milanka Price Index (MPI) improved by 113.24 points. The ASPI closed the day at 2,821.92 points and the MPI closed at 3,949.54 points. Yesterday's turnover also improved compared to the previous day recording Rs. 370 million at the close. The market capitalisation increased by Rs. 21 billion reaching Rs. 878 Billion.

Over 1.4 million SLT shares traded yesterday and the share price increased by Rs. 2.25 to close at Rs. 39.25. Nearly one million Dialog shares also traded yesterday by the share closed flat at Rs. 25.75. Distilleries share price increased by Rs. 8 and JKH gained Rs. 11.

ACL Cables and Kelani Cables which announced a one for one bonus on Monday also gained considerably. ACL moved up by Rs. 19.25 to close at Rs. 154.25.