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* Sri Lanka shares on a roll, hit another high
Tue, Apr 20, 2010, 10:03 pm SL Time, ColomboPage News Desk, Sri Lanka.

Apr 20, Colombo: Sri Lanka stock market continued its ascend for a second day in row to hit another record high today as confident local investors purchased shares worth 1.76 billion rupees.

The All-share Price Index closed at 4,022.37, 0.17% above yesterday's close at 4,015.36 while the more volatile Milanka Index gained 0.08% to close at 4,579.79.

The turnover ended at 1.86 billion rupees with mostly domestic purchases contributing nearly 95% to the turnover. Foreign investors sold shares worth 555.7 million rupees while foreign purchases remained low at 96 million rupees. Nearly 77 million shares exchanged hands at the Colombo bourse today.

Prospects of post-war tourism have raised confidence in local investors to invest heavily in the leisure sector. Announcement of holding Indian film awards, an event equal to Oscars in Colombo has boosted the buying spree in hotel shares.

However, the major gainer today was the plantation sector where Agalawatta, Kotagala and Bogawnatalawa Tea Estates, all posted over 10% gains.

The Colombo bourse has gained 18.8 percent so far this year, making it Asia's second best-performing market.


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