Colombo market sees second day recovery on low turnover

Business

The Colombo stock market recovered for the second day running on Friday, but with steadily declining turnover.

However, given the size of the Colombo Stock Exchange, the Rs. 2.9 billion turnover posted is sustainable, according to stockbrokers.

Analysts said there is a sentimental issue with buyers waiting on the sidelines for the market to settle.

Traders panicked and were trying to sell, they added.

Only 50 counters went down in price while 149 counters gained. The All Share Price Index was up 254.34 points to close at 12,459.80 with the S&P SL 20 up by 124.19 points to close at 4,238.90.

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