Colombo Stocks are still rising & ASI will cross the important 5000 index level within next few weeks. Sri Lanka shares experiencing tremendous growth since May 2009. Most analysts predicted major correction of the market early this year but it was never happened despite several minor market corrections which occurred time to time.

Today ASI gained 77.17 points (+1.63%) to close at 4806.43 while more liquid MPI ended the day at 5461.23, up 81.17 points. Turnover was 2.66 billion rupees.
Dialog & John Keells Hotels (KHL) were among the today’s major positive contributors. Dialog was up by 25 cents to close at Rs 9.75 while KHL gained 2.50 to close at Rs 22.50. John Keells Holdings Plc (JKH) also up by 3.00 to end the day at Rs 223.50. JKH has announced their intention to invest heavily in Sri Lanka’s hotel & tourism sector which is a booming industry in the county.
There were 126 gainers & 40 losers for the day. Environmental Resources investments Plc (GREG) lost 3.75 to close at Rs 97.75. Wire line telecom leader Sri Lanka Telecom Plc was down by 50 cents to close at Rs 35.75.


When market is getting overheated investors should avoid investing in speculative stocks. As June quarter results started coming in to the market, investors have to focus on fundamentally strong stocks with growth potential.

*****With eToro Open Book you can Trade Forex Like a Highly Experienced Trader*****

Filed under: Colombo Stock Market • daily

Like this post? Subscribe to my RSS feed and get loads more!