CSE sees choppy trades

Business

The Colombo Stock Exchange (CSE) saw choppy trading on Thursday with analysts saying it's in a consolidation phase.

They said that after rising considerably the CSE is in a consolidation phase with debtors that didn't pay earlier.

Fundamentally strong shares according to the recently released quarterly results are expected to rise again when new funds come into the market as there is still negative real returns in fixed deposits, they added.

The All Share Index was marginally down by 0.1 per cent to 12, 352.38 points and S&P SL 20 was up by 0.18 per cent to close at 4, 224.63. Turnover was at Rs. 3.8 billion.

The traders are in a wait and see mode especially this week being a short 4-day week.

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