Market continues upward momentum

Colombo Stock Exchange continued with the upward movement that was witnessed in the past few days, with the ASPI moving up by 5 points (+0.16%) to close at 2,577 points, whereas the MPI, which tracks the markets most liquid stocks moving up by 10 points (+0.33%) to end the day at 3,242 points.

Turnover, at Rs. 876 million was mainly driven by interests in Sri Lanka Telecom (Rs. 477 million), Distilleries (Rs. 47 million), Royal Ceramics (Rs. 44 Million), Parquet Ceylon (Rs. 34 Million) and Bogala Graphite (Rs. 26 Million).

The top advancers for the day were Bogala Graphite by 23% to Rs. 28.75, Asian Cotton Mills, which is now a property and investment company, up 14% to Rs. 47.50, Vanik Incorporated 14% to Rs. 1.60, ACL Plastics by 13% to Rs. 39.00.

The decliners for the day were Blue Diamonds by 10% to Rs. 0.90, York Arcade Holdings, by 9% to Rs. 16.00, Carsons holding company, Bukit Darah by 7% to Rs. 1,300.00.

Hayley's held plantations company Kelani Valley fell by 4% to Rs. 70.25 a share, while Cargills was down by 3% to close at Rs. 1,300.00

Vallibel Power Erathne, the sole listed power producer in the Colombo bourse, disclosed the disposal of its subsidiary Didul Ltd for a consideration of Rs. 185 million. DIMO made an interim dividend of Rs. 1.50 and both Colombo Investment Trust and Colombo Fort Investments made a first and final dividend call of Rs. 1.00 each.