Sri Lanka shares closed marginally higher despite expected market correction.

Indices at CSE closed higher with gains in index heavy Dialog Telekom & Sri Lanka Telecom. Dialog closed one rupee higher at Rs 8.50 & over 23.9 million shares traded during the day. Sri Lanka Telecom closed at Rs 38.00, up one rupee. Turnover was healthy at 2.83 billion rupees. Heavy trading in Galadari Hotels alone contributed Rs 538.3 million for the today’s total equity turnover.

All share index closed at 4219.76, up 14.25 points while MPI closed at 4786.19, up 37.59 points. There were 93 companies that recorded negative growth while only 53 companies reported gains. This is clearly indicate market is about to face for a technical correction.

The Good Hope Plc was up by 56.00 to close at Rs 450.00 while The Bukit Darah Plc gained 25.25 to close at Rs 4525.25. Both companies have oil Palm interest in Malaysia. Confifi Hotel Holdings lost 14.25 to close at Rs 210.75 while Finlays Colombo Plc dipped by 44.50 to close at Rs 195.50. Diesel & Motor Engineering Plc (DIMO) lost eleven rupees to end the day at Rs 414.00.