Sri Lanka Stock Picks

Sri Lanka stock picks site has been developed to give first hand information with regard to share trading opportunities available for investors who do not like go through lengthy research reports, calculations,etc but to have a clear idea about stocks that have future up side potential.Our service is just not for day traders but for the investors who wish to see their money growing in the long run.Our main objective is to provide information relating to trading under one roof.

Thursday, January 28, 2010

SRI LANKA SHARE MARKET GETS THE ELECTION HEAT- NOW AT RECORD HIGH LEVELS

28/01/2010 - Colombo Stock Market gets the election heat today. It was down by more than 1.8% during early hours [where some investors bought shares previously expecting a Govt change sold their stakes] & closed with a positive note up by 1.25% at the end. Today's market behavior was a very good lesson to the panicked investors who have no idea what so ever about the political stability created after the Presidential elections in the Country.This was clearly mentioned by the Dr.Mark Mobius chairman Templeton Assets Management Ltd, who oversees 34 b.n. USD fund to the Bloomberg news wires. This was also published in SRI LANKA STOCK PICKS site today morning under the heading "President's re-election adds some degree of stability".

ASI was up 45.43 points to close at record high of 3636.41 surpassing its previous all-time high of 3610.74, hit on Tuesday.& Millanka index was closed at 4181.79 up by 5.84 points.

Colombo Stock Market has risen 7.4 percent so far this year after being one of the world's best-performing markets in 2009, jumping 125.2 percent.

Turnover for the day was Rs1.9 b.n.

Local buyers were active today.They purchased shares to the value of Rs 1.7 m.n. & sold Rs 1.3 m.n. worth of shares. Foreign purchases were at Rs160 m.n. & Foreign sales were at Rs 575 m.n. Net foreign out flow was Rs 415 m.n.

There were 85 gainers as against 52 negative contributors.

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