Colombo stocks gain on better sentiments
2008-11-05 18:08:06

Colombo indices rose at Wednesday’s market close with strong signs of market recovery as the market cheered Barack Obama’s win the US presidential elections, stock analysts said.

“The local market was closely following the international market trends. There is a sign of recovery now,” Thakshila Hulangamuwa, Vice President Asha Phillips Securities noted. He also said budget expectations for tomorrow’s budget are also high by the investors. “These expectations may hold the market this week,” he added.

Nikitha Tissera, Head of Research Sampath Securities said sentiments are seemingly positive despite the third quarter earnings coming out on a ‘mixed’ bag. The All Share Index increased by 33.52 points to 1,962.20 while the Milanka increased to 55.86 points to 2,224.75 at stock market close and the turnover was at Rs.123 million.
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