July 11, Colombo: The bourse is undergoing a recovery session after it had consecutive falls in the beginning of July. Indices held position on the negative territory in the first two days but the ignition provided on Wednesday drove the scales up. WoW All Share Price Index (ASPI) climbed 20.88 points (0.87%) to end at 2,425.42 while MIlanka Price Index (MPI) jumped 100.48 points (3.56%) close at 2,920.98.

ASPI at 2350 is seen as strong support level. Since 2007 ASPI reached 2350 levels in three different time periods and every time it reached 2350 the market has recovered successfully.

Ceylinco Insurance PLC Non Voting Ordinary Share Issue was also concluded during this week. As at the closing day of July 9, 2008 the issue had collected a Rs.1,140Mn, Rs.347.5Mn less than its planned amount of Rs.1,487.5Mn. A total of 2,519 applications were received to acquire 6,512,571 shares. Interestingly 30% of the subscribers applied on its closing day after the issue had been opened for more than 2 weeks.