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Leading News from Sri Lanka ::
Dec 30, Colombo: Sri Lanka stock market reached another high Wednesday, the last trading day for the year, more than doubling in value and becoming one of the best performers in the world.
Local investors upbeat by the peace dividends and new development opportunities combined with low inflation have contributed to the phenomenal rise in the market which has gained 125.2% for this year.
The All Share Price Index gained today 0.86% to close at 3,385.55 while more volatile Milanka Price Index rose by 0.75% to close at 3,849.38. The high turnover of 765.4 million rupees was mainly due to the domestic purchases of 719 million rupees. Foreign purchases closed at 46.4 million rupees.
Market analysts say the local investors are buying shares ahead of the presidential elections next year expecting the stock market to rise next year regardless of the outcome at the polls.
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