Bourse rises further

The bourse rose further yesterday with continued buying pressure from the investors, tracking positive cues from enhanced foreign purchases.

ASI climbed up by 86.63 points (+1.60%) to close at 5,507.60 while sensitive MPI increased by 70.44 points (+1.45%) to end at 4.803.60. Market turnover stood at Rs.3.7 billion which was well above the average turnover lately.

LB Finance Plc recorded the highest turnover of the day at Rs.1.1 billion followed by Hayleys Plc (Rs.1.1 billion) and Aitken Spence Plc (Rs.517.3 million). Meanwhile heavy trading was seen in counters such as Environmental resources Plc, Colombo Fort Land & Building Plc and Blue nonvoting.

Furthermore there will be an offer for subscription of 25 million shares of Macwoods Energy Limited at a price of Rs.14.00.

Lanka Securities Research