Market gains momentum

The market continued to gain momentum with a sturdy performance today with both the main indices surging over 2%. Institutional as well as retail play was evident which resulted in the Colombo bourse denoting a vivacious atmosphere.

The broader market index, the All Share Price Index (ASPI) climbed by 2.1% (112.46 points) over yesterdays close to end the day at 5,420.97 points whilst the Milanka Price Index (MPI) rose by 2.89% (132.53 points) ending the day at 4,733.16 points.

Market turnover improved to Rs 1.53 billion on all round investor participation. The major turnover generators of the day were John Keells Holdings (JKH), Commercial Bank (COMB), Blue Diamond Jewellery Worldwide-Non voting (BLUE.X), Environmental Resources Investments (GREG) and Aitken Spence (SPEN). The top five turnover generators accounted for 37% of the total market turnover of the day. SC Research