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Bourse reacts positively to President - Opposition Leader meeting

The Colombo Stock Market reacted positively yesterday towards the discussion President Chandrika Bandaranaike Kumaratunga had with the Opposition Leader Ranil Wickremesinghe on Thursday, Stockbrokers told the Daily News.

The news about Japan's readiness to grant a US $ 263.9 million loan to Sri Lanka also lifted investor enthusiasm.

The All Share Index jumped to 1,413.36 points from 1,405.03 on Thursday and the Milanka Price Index increased to 2,107.59 points from 2,087.81 points. The turnover for the day was Rs 188,737,769.

Nawaloka, Colombo Land, Lankem Ceylon, SLT and CT Land were heavily traded stocks. Domestic purchases were Rs 2,875 million and foreign purchases Rs 217 million. Touchwood, LB Finance, Equity Two Ltd, Ferntea Ltd and Lanka Cement were the top five gainers.

Nawaloka shares worth of 2.4 million changed hands yesterday as high as Rs 29.50. The shares were in demand by domestic and foreign investors. Stock Brokers said that the market was almost driven by retail investors as institutional buyers were slow in going for heavy trading.

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