Stockmarket sluggish this week
The Colombo stockmarket is expected to see some uncertainty this week due to the turbulent political environment even though the bourse recovered from news of the SLFP-JVP alliance.

Dushyanth Wijesinghe, Head of Research at Asia Securities said the market would be sluggish this week with a downside bias due to the insecure political condition in the country.

The All Share Price Index (ASPI) on Friday closed at 1116.84 while the Milanka Price Index (MPI) closed at 2017.91. The percentage change in the ASPI was 0.58 with 6.56 points down and the MPI had 0.66% with 13.46 down.

Among the top gainers Bogala Graphite topped the list up by 25% with Vanik and Pegasus up by 12.5% each and Lanka Cement up by 12%. Mirama topped the list of losers down by 33.9%. Added to the list were Commercial Bank preference shares down by 18.1%, Ceylinco Housing down by15.3% and Richard Peiris Exports down by 13.3%.

Investments were the only sector that moved up from Thursday whereas banking, beverages, chemicals, construction and engineering, foot care and textiles and hotels and travels sectors declined.

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