Convincing day for Colombo stocks – now at all time high 
2009-12-18 16:28:32
A very ‘convincing’ day was how analysts described the Colombo bourse on Friday, as it hit an all time high, while drawing contributions from both retailers and high networth investors investing in shares across the board.

“Today was a very convincing day as there were contributions from all corners and all sectors of the market,” Thakshila Hulangamuwa, Vice President Asha Phillip said.

He said it is a good sign that unlike most days when only high networth and institutional investors are responsible for high turnovers in the market through trading in blue chips, today contributions to the turnover of Rs 1.1 billion came from shares across the board. 1During the past four days, it was boosted by shares such as JKH being divested by the US Federal court- indicted Raj Rajaratnam, while many analysts said that the political factors such as handing over of the nominations did not have any impact on the market.

“Right now there are many funds interested in this market and they are awaiting some large cap stocks,” an analyst said. He noted that this has put a big ‘high’ on investor sentiment as well. “This is the reason that the market is improving,” he noted.

The benchmark index, the All Share rose by 1.73% to end at 3188.82, an all time record and over its last record October 13th high while the liquid index Milanka was up by 2.1% to close at 3630.48. The All Share has been up 112% so far for this year. (DEC)
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