Week ended 5th December 2008

Overall negative sentiment prevailed throughout the week. Both turnover & share prices declined.

Total equity turnover at Colombo Stock Exchange during the week was only Rupees 271 million compared to Rupees one billion last week.

Total market capitalization dropped to Rupees 509.7 billion from 535 billion last week.
There was heavy retail buying on Vallibel Power shares due to speculation. Rumors are spreading that USA buyer already paid an advance for takeover this company.

Investors are advised to buy highly undervalued fundamentally sound stocks as these stocks will be first to benefit when market recover.

We can expect massive price gains in Colombo Stocks within near future with end of the ongoing military campaign to defeat terrorists.

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