Market up

The indices at the Colombo Stock Exchange continued to gain with larger volumes of shares being traded than on Monday or Tuesday.

The ASPI gained 24 points (+1.4 percent) to close at 1,778 and the more liquid MPI gained 18 points (+1.0 percent ) to close at 1,868. In the past one month the ASPI has appreciated an impressive 9 percent or 243 points, from1,625 on the March 24.

Total turnover for the day was Rs 271 million with NDB Bank accounting for Rs 82 million of the business. NDB Bank saw 4 crossings for a total of 910,000 shares at Rs 90.00, while the share closed up at Rs 94.75. John Keells Holdings saw Rs 39 million in turnover and the share closing flat at Rs 64.00.

Ceylinco-Seylan Developments closed up 25 cents (+3.23 percent) at Rs 8.00 on a turnover of Rs 16 million while Chevron Lubricants gained another Rs 1 (+0.86 percent) to close at Rs 115.75 on a turnover of Rs 15 million.

Large cap stocks Sri Lanka Telecom closed at Rs 38.75 up 75 cents(+1.97), Dialog at Rs 5.25 unchanged from Tuesday's close, Distilleries Company at Rs 72.50 up Rs 1.50(2.11percent) and Commercial Bank at Rs 85.00 up Rs 3.00(+3.66 percent). Asian markets continued to be volatile with the Hang Seng closing down 3% and the Straits Times Index was down by 2 percent. In India, the Bombay Sensex was down a percent. In Japan, the Nikkei closed marginally up at 0.1percent. Source:

First Guardian Equities