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| Thursday, 20 January 2005 |
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ASPI records all-time high Anticipating a possible decline in interest rates, investors reacted positively yesterday at the Colombo Stock Exchange and as a result the All Share Price Index recorded an all-time high with 10.72 points up. The ASPI which opened at 1577.02 points moved up by 0.67% points to close at 1587.74 points. Market analysts said that a possible lowering of interest rates by the Central Bank will fuel more funds to the market and strengthen liquidity levels. "The efforts to promote CSE overseas and other positive economic fundamentals have also won the confidence of the investors and the market is set to perform well in coming few days. The investors will also react accordingly.The overall sentiment is very positive", they said. "The return of traders and investors after the CSE promotion in the Middle East also led to an increased level of activities yesterday", stockbrokers said. MPI which opened at 2173.06 points increased by 1.32 % to close at 2201.89 points. Significant upward movements were seen in Land and Property, Banks Finance and Insurance, Footwear and Textiles and Diversified Holdings sectors while declines were recorded in Plantations, Stores and Supplies and Motors sectors. A total turnover of Rs 288.1 million was recorded. The Diversified Holdings sector accounted for 31.6% of the total turnover. Total trades stood at 3300. Foreign investors were net buyers in the market with purchases of Rs 42.8 million and sales of Rs 32.8 million. (SP) |
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