Colombo shares rise on thin turnover
2008-10-17 16:26:20

Colombo share prices hobbled on thin turnover at market close on Friday, with stock analysts saying that there is ‘absolutely no direction’ in the stock market.

“There was some profit-taking in the morning but now there is a wait and see approach by the investors till the third quarter results come,” Nikitha Tissera, Manager Sampath Securities said.

He also noted that the global financial crisis has not affected the Colombo market as yet. “It is (the fall) a case of very bad timing because the three top stocks – DCSL, JKH and Dialog crashed due to issues of their own. When they go down they drag the entire index with them and this has nothing to do with the global financial crisis,” he added.

The All Share Index rose by 13.05 points to 1,998.84 while the Milanka gained by 22.66 points dropped by 4.96 points to 2,235.94. The turnover was Rs 88.5 million.
-Ends- .