In early trading shares gained significantly but later came down on selling pressure. Investors sold stocks that appreciated in last few days. However ASI gained 7.01 points to close at 4022.37 while MPI closed at 4579.79, up 3.69 points. Turnover was healthy at Rs 1.85 billion.
Total of 80 companies managed to improve their stock prices while 74 companies lost in value. Ceylon Tobacco a member of multinational tobacco giant British American Tobacco was up by 11.50 to close at Rs 269.00. Confifi Hotel Holdings Plc closed at Rs 220.00, up ten rupees. Renuka City Hotel Plc gained 10.25 to close at Rs 260.00. A rarely traded stock Swadeshi Industrial Work Plc was up by massive 950.00 to close at Rs 3800.00 but only 200 shares traded.
Dialog Telekom Plc closed unchanged at Rs 7.25.
Market may experience minor correction in coming days. But we strongly believe there are many undervalued stocks on future earnings.  

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Filed under: CSE Daily Stock Market Report

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