|Wednesday, 19 January 2005|
Wait and see approach at Bourse
The All Share Price Index (ASPI) moved up 2.29 points and the Milanka Price Index (MPI) declined by 1.07 points yesterday. The ASPI which opened at 1,574.04 points moved up by 0.14% to close at 1,576.34 points while the MPI which opened at 2,173.13 points declined by 0.04 % to close at 2,172.06 points.
Market analysts said that the prices of stocks are going high and investors find it difficult to go for selective buying as the future performances of the relevant sectors are too early to predict. "They are adopting a "Wait and See" approach. However, the level of activities improved yesterday compared to the previous day", they said.
Information Technology, Manufacturing,Oil Palms and Land and Property sectors moved up while Investment Trust, Footwear and Textiles, Telecommunications and Services Sectors recorded negative growth.
A total turnover of Rs 201.7 million was recorded . Sector wise the Manufacturing sector had the highest turnover which was 38.42% of the total turnover.
A total of 2, 433 trades were concluded.
Foreign purchases exceeded sales with purchases of 67.1 million as against sales of 54 million.
The top gainers were Serendib Land (50%), Harischandra Mills (29.6%), Lankem Development (22%) and Samuel Sons (12.5%) while the top losers were Horana Plantations (14.5%), Sigiriya Village (10.5%), Colombo Fort Investment (9.2%).
Produced by Lake House