Comments /1568 Views / Saturday, 8 September 2012 00:34
Stocks extended gains for a ninth straight session on Friday, jumping 2% to a five-month high helped by blue chips and foreign buying.
The Colombo Stock Exchange’s main index gained 2%, or 107.93 points, to 5,496.85, its highest close since 4 April.
“Everybody is chipping in. Everybody is participating in the run and it’s mainly a sentiment-driven market,” said a stockbroker asking not to be named.
The new Head of the Securities and Exchange Commission, Nalaka Godahewa, is expected to come up with new ideas to revive the market, which has fallen 9.51% so far this year.
Turnover was Rs. 1.76 billion, more than double of this year’s daily average of Rs. 874.2 million. The Bourse saw foreign inflows of Rs. 155.1 million worth of shares, extending the net inflow so far this year to Rs. 28.66 billion.
The rupee closed at 132.30/35 against the dollar, slightly firmer than Thursday’s close of 132.38/40.
23 July 2016
A classic example of our cultural predictability is explicit in the saga behind the naming of Sri Lanka’s only international airport It will not be wrong to say that we are a country in a permanent state of crisis, but...
22 July 2016
NOT BY MIGHT, NOR BY POWER – The spirit of a nascent Sri Lankan nationalism (inclusive, tolerant, Other-embracing) might be compromised if Government and civil society together don’t challenge competing nationalisms Ca...
22 July 2016
EPRLF Leader and TNA member Suresh Premechandran Q: What is the latest with regard to the Jaffna University clash? A: I do not know why this much of exposure is given to this drama. Earlier...
22 July 2016
Apple CEO Tim Cook at Apple’s office in Ireland. Apple has publicly stated that it wants to significantly expand its operations in Ireland Many foreign investors I engage with want Sri Lanka to emulate Ireland, or even Vietn...
Heavy rainfall and heat swamp Sri Lanka’s anti-dengue drive
PM Wickremesinghe’s leadership towards economic development
Necessity for members of COPE to be made conversant with legal provisions applicable to matters pertaining to CB’s Public Debt Department
Benefits of a potential Singapore-Sri Lanka FTA
Maritime Silk Road and China-Sri Lanka Relations shot in the arm for Chinese foreign investment
Sri Lanka can count on China for development cooperation
Software robotics: Are we in the midst of a revolution?
International investor perspective on local currency solutions