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Sri Lanka's Colombo Bourse ends the week with a high note
Fri, Apr 30, 2010, 08:46 pm SL Time, ColomboPage News Desk, Sri Lanka.
Apr 30, Colombo: Sri Lanka's stock market ended the week with another record high today at Colombo Stock Exchange as local investors continued their buying spree expecting high returns while their foreign counterparts took profits from recently gained stocks.
The All-Share Price Index rose to an all-time high of 4,188.88 to exceed Tuesday's high of 4,155.00 by 0.82% while the more volatile Milanka Price Index closed 0.36% higher at 4,712.43.
The turnover closed at 1.09 billion rupees with around 85% of domestic purchases of 940 million rupees while the share volume closed slightly nearly 67 million shares. Net foreign sales amounted to 78 million rupees.
Dankotuwa Porcelain topped the list of gainers with a 15.52% gain selling 2.3 million shares. The other top gainers included Bogala Graphite (15.29%), Bukit Darah (13.82%), Property Development (13.08%), and Blue Diamonds – non voting (12.50%).
Sri Lanka's tiny stock market is performing outstandingly in the recent days as hopes of political stability in the country have raised local investor confidence for retail buying.
Analysts predict that the bourse will go up as the country is heading towards development under the Rajapaksa administration with more opportunities in the hotels and travel sector as tourism booms.
The bourse has gained 23.7 percent so far this year, making it the Asia's second best performing market.
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