COLOMBO, Dec 21 (Reuters) - Sri Lankan shares .CSE hit a record closing high of 3,234.28 on Monday, surpassing its previous closing level of 3,188.82 on Dec.18, on high turnover as investors stepped up buying ahead of the year end, traders said.
The All-Share Price Index .CSE of the Colombo Stock Exchange rose 1.75 percent to an all time high of 3,244.87 in intra-day trade, before closing up 1.43 percent or 45.46 points at 3,234.28, its highest ever close.
"Market is back on its feet and running," said Prasanna Chandrasekara associate director at Asia Securities stockbrokers in Colombo. "People are getting in to positions before the elections and ahead of new year."
Analysts said the foreign buying in the past few days has improved investor confidence, which had been declining since the government announced an early national election next year.
Foreign purchase last week was 5.87 billion rupees, outpacing foreign sales worth 3.58 billion rupees. Net foreign inflows till Dec 18 stood at a record 1.15 billion rupees. At close on Monday, net foreign inflows stood at 855 million rupees.
Market heavyweight John Keells Holdings JKH.CM closed 1.09 percent firmer at 162.25 rupees a share, while shares in conglomerate Aitken Spence SPEN.CM closed 10 percent firmer at 1,100 rupees a share.
The day's turnover was at 1.01 billion rupees ($8.83 million), mostly driven by local buying, well above last year's daily market average of 464 million rupees. Continued...
http://in.reuters.com/article/domesticNews/idINSGE5BK0CR20091221
http://in.reuters.com/article/domesticNews/idINSGE5BK0CR20091221
The All-Share Price Index .CSE of the Colombo Stock Exchange rose 1.75 percent to an all time high of 3,244.87 in intra-day trade, before closing up 1.43 percent or 45.46 points at 3,234.28, its highest ever close.
"Market is back on its feet and running," said Prasanna Chandrasekara associate director at Asia Securities stockbrokers in Colombo. "People are getting in to positions before the elections and ahead of new year."
Analysts said the foreign buying in the past few days has improved investor confidence, which had been declining since the government announced an early national election next year.
Foreign purchase last week was 5.87 billion rupees, outpacing foreign sales worth 3.58 billion rupees. Net foreign inflows till Dec 18 stood at a record 1.15 billion rupees. At close on Monday, net foreign inflows stood at 855 million rupees.
Market heavyweight John Keells Holdings JKH.CM closed 1.09 percent firmer at 162.25 rupees a share, while shares in conglomerate Aitken Spence SPEN.CM closed 10 percent firmer at 1,100 rupees a share.
The day's turnover was at 1.01 billion rupees ($8.83 million), mostly driven by local buying, well above last year's daily market average of 464 million rupees. Continued...
http://in.reuters.com/article/domesticNews/idINSGE5BK0CR20091221
http://in.reuters.com/article/domesticNews/idINSGE5BK0CR20091221
