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| Sunday, 29 June 2003 |
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| News Business Features Editorial
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Colombo Bourse records highest turnover The Colombo Stock Exchange (CSE) registered the highest average daily turnover of Rs 938.3 million for the five day week ending June 27, 2003, the highest turnover in any given week. A total of 107.3 million shares were traded during this period with a total of 26,143 transactions. Foreign investors were net sellers in the market with foreign sales of Rs 703.3 million while foreign purchases amounted to Rs 395.9 million. The bourse recorded its highest ever turnover of Rs 1.58 billion on Wednesday. The All Share Price Index (ASPI) reached its highest level since November 1994 recording 1100.1 on wednesday. The index opened at 995 and ended at 1051.4 on Friday registering a 5.6 per cent or 56.4 point increase. The Milanka Price Index (MPI) also hit an all time high peaking at 2182.1 on Wednesday. The MPI gained 7.6 per cent or 146.2 points opening the week at 1913.1 on Monday and closing at 2059.3 on Friday. The prevailing peaceful situation in the country, international support at the donor conference, consistent policies of the government as well as the recently announced tax amnesty are the reasons attributed to this success. On Monday, the market recorded a turnover of Rs 896 million while it increased to Rs 956 million and peaked at Rs 1.58 billion on Wednesday. The turnover dipped to Rs 862 million on Thursday and further dropped on Friday to Rs 388 million. Market analysts attribute the drop experienced during the last two trading days to "profit taking by the retail investors". A CSE spokesman said that there were a lot of fluctuations in the market on Friday. |
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