CSE Makes gains

Colombo stock Exchange once again made gains as stock analyst believes that the market is entering a period of calmness, which they say is a healthy development.

ASPI moved 0.44% to end the day at a range of 5,308 points while the Milanka Index also gained by 1.13% to close the day at 4,600 points.

Market turnover for the day stood at Rs.1.10 billion while there was a net foreign inflow of Rs. 75 million.

784,500 of LION shares crossed hands in 5 crossings with each priced at Rs. 200, while  5 million AMSL shares also changed hands in just one crossing with the share price tagged at Rs. 8 each.

Below we also reproduce a part from the daily market report of Bartleet Religare Securities

The markets seem to be entering a period of calmness. This is a healthy development for the markets as it consolidates between the levels of 5,000 and 5,450. There was significant interest in both value and retail counters and therefore another encouraging development for the market.

Sentiment view continued

The negative news that overpowered the market last week seems to be priced in to the current levels. We now need to see strong earning coming through in the next few quarters and better than expected news on the economy. This will have a positive effect on stock prices as investors seem to be looking out for the worst.
However if the news doesn’t get any better we could see the markets continue to sell off.

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