Monday, February 1, 2010
Colombo Stock Exchange record high in 01 Feb 2010
The All-Share Price Index of the Colombo Stock Exchange jumped near 1.70 percent to hit a fresh record high of near 3700 points, surpassing its previous all-time high of 3610.74, hit on Tuesday. It closed 1.25 percent up at 3636.41 points.
The market opened with negative sentiment and fell 1.94 percent as some investors who had expected a regime change after the election sold their stakes in thin trade, dealers said.
However, retail investors chipped into the bourse and started buying shares across the board on hopes of political stability and unchanged economic policies after Rajapaksa's re-election.
Sub-sector indices of hotels and travels, banking, finance, and insurance, manufacturing, and trading hit new peaks during the trading as investors were bullish on returns in the bourse across the board.