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by Surekha Galagoda

The Bourse bounced back following the announcement of the resumption of peace talks between the government and the LTTE next month and increased political stability as well.

The news of the resumption of peace talks between the government and the LTTE in February reached the bourse after it was closed. The market picked up by 145 points on Thursday. The ASPI increased from 1968.8 to 2117.9.

The Milanka Price Index went up by 195.5 points from 2552.8 to 2748.3. Both indices increased by 7.6%. The turnover on Thursday was Rs 1.3 billion, the highest turnover for the year. Domestic investors traded to the value of Rs 731.7 million while foreign investors traded to the value of Rs 581 million.

Director/CEO Asha Philip Securities Dimuthu Abeysekera said that the market picked up by about 145 points after the announcement of the resumption of peace talks as investors were scared that there would be a conflict between the government and the LTTE.

Now with the announcement a positive picture can be seen and with that the optimism is building. He said that this would lead to tourism and all other sectors faring well as this will send positive signals to the whole world about Sri Lanka.

Abeysekera said that the All Party Conference (APC) held last week was welcomed as all parties had a common agenda after several years and spoke in one voice about resuming peace talks.

He said that though investors had confidence they were scared to invest in the bourse because of their bitter experiences in the past but the announcement allayed all fears.

When they start peace talks in February the indices will be at the same levels as in November, he said.

Abeysekera said that there are loopholes in the CFA. Therefore first resolve the loopholes and then start talks for a final solution. Agreeing on a final solution will take years but it is definitely better than war. The country can develop and move forward with confidence leaving behind the scars of war.

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