Stocks firm

Investors in the Colombo Stock Exchange remained bullish yesterday as the indices ended the day positive, with the ASPI gaining 3 points (+0.2 percent) to end at 1,842.

The MPI index which tracks the most liquid companies in the CSE was up 12 points (+0.6 percent) to close at 1,975. Large cap companies have been in favour with investors as their size and diversity of business gives them greater protection in times of uncertainty and hence the MPI has been moving up faster than the broader market.

Turnover for the day was Rs 229 million, with business being spread out unlike in the past. NDB Bank saw business of Rs 99 million, with the share closing down Rs 1.00 to end at Rs 93.75. John Keells Holdings saw turnover of Rs 34 million with the share gaining Rs 2.00 to close at Rs 73.75.

Commercial Bank closed up Rs 1.00 at Rs 90.00 on turnover of Rs 13 million and Haycarb closed down at Rs 2.25 at Rs 44.50 on turnover of Rs 11 million. Chevron Lubricants saw a turnover of Rs 10 million with the share closing at Rs 117.00, a gain of 75 cents. Source: First Guardian Equities