June 18, 2009 (LBO) - Sri Lankan stocks extended gains Thursday closing up 2.4 percent with heavy trading on conglomerate John Keells Holdings (JKH) and financial sector companies activating the market, brokers said.
The benchmark Colombo All Share Price Index closed up 2.41 percent (56.54 points) to end at 2,399.46 while the Milanka index of liquid stocks gained 3.56 percent (93.20 points) to close at 2,711.28, according to provisional stock exchange data.
Turnover was 2.0 billion rupees.
'The market was driven with healthy participation from retail, corporate and high net worths investors,' Thakshila Hulangamuwa of Asha Philip Securities, said.
'Overall inflow of foreign funds to the market signifies a bright future.'
'In the medium term the market would stay strong and would look at 2,500 levels on the ASI to stabilize and settle its cracks,' Hulangamuwa, said.
Foreign investors were net buyers for 56.0 million rupees, buying 791.0 million worth shares and selling shares valued at 735.0 million rupees, brokers said.
The spot dollar remained unchanged at 114.90/95 rupees in late afternoon trade, dealers said.
chennaiguuy
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Member Profile 17 Jun 2009 15:38:41 GMT Report for Abuse
Sri Lanka is expected to receive a US $ 2.5 billion loan from the International Monitory Fund (IMF) this month, a top Central Bank official told Daily Mirror on condition of anonymity.
The question is WHEN ?
they have been telling this for the LAST 3 Months whenever Stock market is abt to crash land !
While FIIs have smartly taken out money from the Stock exchanges, Moda Bandas invest with all their life time earnings & they are in for a nice Mahinda Chinthanya ride of their life !
:-))
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