Bourse recovers sharply

The Colombo bourse recovered sharply today to the positive zone with notable turnaround in the indices however with thin volume.

ASI jumped by 76.52 points (+1.3%) to close at 5,919.35 and sensitive MPI increased by 79.56 points (+1.6%) to settle at 5,167.81.

Market turnover was low at Rs.349 million.

Commercial Bank Plc (Rs.38.7 million) was the top contributor to the turnover. In addition Janashakthi Insurance Plc (Rs.23.5 million) and Pan Asia Plc (Rs.17.2 million) made significant contributions to the daily turnover.

Meanwhile HVA Foods Plc, Environmental resources Plc and PC House Plc demonstrated heavy trading.

It was announced that EXPO Lanka acquired 50.0% Norfolk Foods (Pvt) Ltd for a total consideration of Rs.300.0 million.

Foreign participation stood at 14.9% of the total market activity and at the end of the day foreign investors were the net sellers with a net foreign outflow of Rs.36.2 million.

Lanka Securities Research