JKH boosts market

Turnover on the Colombo Stock Exchange improved to Rs. 530 million boosted by large trades in John Keells Holdings PLC (Rs 225 million), Nestle's PLC (Rs 82 million), Vidul Lanka (Rs 52 million), and Distilleries Company of Sri Lanka (Rs 44 million).

The ASPI declined 19 points to close at 2,420 (-0.8%) while the MPI declined 33 points to 2,914 (-1.1%). Both indices were dragged down by the telecoms sector.Dialog Telekom PLC declined 25 cents (1.8%) and Sri Lanka Telecom PLC declined Rs 1 (2.2%).Global equity markets are declining with the MSCI World Index losing 1.2%. Market participants are concerned over record high crude oil prices (over US$ 145) and rising inflation.Central Banks are expected to raise interest rates to control inflation levels.

Source: First Guardian Equities