|
|
 |
 |
| Sunday, 29 June 2003 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Bull run supported by domestic investors The Colombo bourse saw a bull run during the last few weeks, which peaked last Wednesday with the CSE recording its highest turnover of Rs 1.58 billion. The trend was fully supported by domestic investors who accounted for over 95 percent of the turnover. Dimuthu Abeysekera, Director MMBL Philip Securities Ltd said: "The most significant factor is that local investors are dominating the bourse. They have become very active, which I think is a very positive signal. The recently announced tax amnesty of the Government is also a reason for money to come into the CSE". He was confident that the present trend will continue if there is peace and no election in the near future. A dip in the market once in a way is a healthy sign as the upward trend cannot continue for ever, he said. Chief Operating Officer Asia Capital and Managing Director Investor Access Asia Asanga Seneviratne said: "Although the Colombo Stock Exchange (CSE) is doing well and there seems to be an upward trend, we should not be complacent. I feel that the system is not 'user- friendly' and therefore, a failure as it is too cumbersome. By cumbersome I mean, that there are too many legal documents to be completed and from anywhere else in the world, you can sell and buy shares. Therefore, short selling methods have to be developed''. "The All Share Price Index (ASPI) is doing well and there are significant gains, but there could be significant downward trends too as I think that the system should be a little more levelled and controlled. The ASPI is doing well because of the positive signs of the peace process. As I see it, the only detriment could be a falling-out between the President and Prime Minister,'' he further said. |
|
News | Business | Features
| Editorial | Security Produced by Lake House |
