Market up

Harshini Perera

There has been significant buying at the end of the market yesterday making high profits. It is expected that market will be high in the coming few days, Capital Trust Securities Director, Sarath Rajapakse told Daily News Business.

With removal of the ten percent price band on shares together with the factor that September becomes the end of the quarter for many companies, there will be a rapid rise in the market. He said that since this is the end of the month, many investors would like to get involved in trading than in the early part of the month.

“Many holding companies would need their portfolio to grow by involving in trading mostly at the end of this month. However, the lift of the ten percent price band on shares is excellent as the investors can engage in the market without any barriers,” Rajapakse said. The lift of the ten percent price band can be a flexible factor but it is not the only factor for a positive market, Asia Securities (Pvt) Ltd., Chief Executive Officer, Dihan Dedigama told Daily News Business. He said that the positive trading will continue since there are very good economic sentiments.

The All Share Price Index (ASPI) was at 6,521.4 which is up by 64.1 points whereas the Milanka Price Index (MPI) was 6,826.8 moving up by 69.3 points as against the previous trading, CSE Business Development Manager Thushara Jayaratne said.

Both the ASPI and MPI recorded the highest ever indices. The total turnover for yesterday was at Rs 3.9 billion. At the end of trading yesterday market capitalization (total value) was at Rs 2,147.7 billion, the highest ever market capitalization recorded at the CSE.