Market recovers after losses

The stock market retraced part of yesterday's losses, with the ASPI higher by 1.7% to close at 1,750 and the MPI increased 2.6% (49 points) to close at 1,920. Turnover for the day was at Rs 64.2 million, with Coco Lanka accounting for Rs 7.4 million of the day's business.

The stock closed up at Rs 17.75. John Keells Holdings contributed Rs. 5 million to turnover and the share closed up at Rs. 69.00. With concerns of liquidity, expectations of poor corporate earnings and shrinking export markets impacting investor sentiment, investors are taking a cautious view of the market. Stock picking is selective and turnover remains low.

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