JKH Holdings, SLT boost stock market

The Colombo Stock Exchange (CSE) last week created history with the All Share Price Index (ASPI), Milanka Price Index (MPI) and market capitalization reaching an all-time high on Tuesday and the trend continued during the week.

On Tuesday at the end of trading the ASPI closed at 2,619.3 points reaching its highest ever point. The ASPI crossed the 2,600 mark for the first time in history on Tuesday.

The ASPI recorded 2667.46 points on Wednesday, 2692.46 points on Thursday and on Friday it ended at 2694.71 points, the highest.

The ASPI recorded a growth of 132.65 points, or 5.2% during the week. The MPI surpassed its previous highest of 3,374.0 points to close at 3,444.2 points on Tuesday.

The previous highest was recorded on November 16, 2005.

The MPI moved up during the next two days and recorded 3,542.97 points on Wednesday and 3582.50 points on Thursday.

On Friday it dropped by 1.99 points and ended at 3580.51. During the week the MPI increased by 254.07 points (7.6%).

At Tuesday's trading the total Market Capitalization of the CSE stood at Rs 802.8 Bn, the highest ever market capitalization recorded at the CSE. The market capitalization (the total value of the CSE) gained Rs 218.8 Bn during the day.

Analysts said that the market boost on the eve of the budget showed the business confidence and it was further proved after the budget with the indicators still increasing.