The Colombo bourse closed the week yesterday on the up and up with the Batticaloa blast slowing momentum slightly but not arresting the soaring market, brokers said.
"It was a one way street going up, up and up," Prashan Fernando of Acuity Stockbrokers said. "The momentum was slightly slowed when news of the Batticaloa explosion reached the market but it did not have a major impact."
The All Share Price Index crossed the 6,400 barrier gaining 113.57 points while the Milanka was up 141.47 points on a turnover of Rs.5.4 billion, up from the previous day’s Rs.3.19 billion with the CSE website posting 147 advancers against 30 decliners.
Aitken Spence and JKH, two of the strongest blue chips quoted on the CSE were the big turnover generators with Spence reporting two crossings at Rs.3,100 while JKH saw three crossings, two at Rs.290 and one at Rs.289.90, brokers said.
JKH edged down slightly by 10 cents to Rs.290.10 while Spence closed at Rs.2,999.60, up Rs.3.30 from the previous day.
Fernando of Acuity said there was a lot of interest in banking stock particularly Sampath and Merchant Bank with heavy retail play in Seylan (non-voting), Sampath, Hemas, Dialog, Reefcomber and Pan Asia.
Brokers and analysts were watching how the market will react to the new regulatory measures to be enforced from Monday when the 10% price band earlier imposed will only apply to some selected stocks captured on a SEC-devised formula.
source - www.island.lk
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