Colombo indices show early gains

(January 26, Colombo, Sri Lanka Guardian) Colombo indices showed early gains at Monday’s market opening due to the optimism of investors on normalising the country’s situation with the liberation of Mullaitivu town, the LTTE's last bastion of control, analysts said.

“This positive trend in the market will sustain backed by the latest news in the war front. The retailers are buying primarily because of the capture of Mullaitivu by security forces while foreign buyers were quiet due to the Chinese New Year holidays,” a broker said.

“Lending rates which are expected to reduce and the Japanese special peace envoy Yasushi Akashi’s pledge to consider necessary financial assistance for Sri Lanka with law and order being restored will exert a positive impact on the Colombo bourse,”Thakshila Hulangamuwa , Vice President of Asha Phillip Securities said .

The Colombo bourse trading gained momentum at around 10.30 this morning with both indices up quite significantly- the All Share up by 38.8 points to 1800.6 points which is a 2.2 % gain while Milanka up by 65.7 points to 1995.5 which is a 3.4 % increase.

The turnover was Rs 63.4 million rupees. Top performers at the time was Seylan Bank’s with Rs. 11.2 million, Seylan Bank non voting with Rs. 10.4 million and JKH with Rs. 10.3 million. - Sri Lanka Guardian