Bourse edges up; volumes thin due to holidays

Wednesday, 8 April 2015 00:25 - - {{hitsCtrl.values.hits}}

Reuters: Shares ended slightly higher on Tuesday on select buying, in stagnated market as many investors and brokers have stayed away ahead of holidays, dealers said. The index ended 0.14%, or 9.74 points, firmer at 6,927.25 on Tuesday. “Market is up on select buying, but nothing much is happening in the market even though the turnover was slightly better today but we have not seen retail activities,” said Dimantha Mathew, Research Manager at First Capital Equities Ltd. The day’s turnover was Rs. 457.3 million ($ 3.43 million), well below this year’s daily average of Rs. 1.14 billion. The market will be closed on 13 and 14 April for traditional Sinhala-Tamil New Year holiday. The main stock index had lost 6.6% last month, its biggest monthly drop since October 2012 as investors offloaded their holdings to settle margin trading amid concerns about political stability and a rise in interest rates. Analysts expect trading to stay thin through mid-April ahead of the New Year holiday and amid political uncertainty. Shares in Carson Cumberbatch Plc rose 6.67%, while Good Hope Plc rose 14.93%.

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