Colombo stocks witness strong comeback

Business

Colombo stocks on Monday moved up with renewed buying activity mainly on the 'old favourites' with both indices up around 5 per cent and stronger turnover than the recent average.

On speculation that conflict-related disruption between Ukraine and Russia will increase freight rates, Expolanka PLC led quite a strong rally, stockbrokers said.

Browns Investments was a sought after share today. With strong speculation that CLC and LOFC will be merged in few days, investors ran both shares strongly.

Analysis said that valuations are attractive and as share prices came down the market Price to Earnings was around 11.

The All Share Price Index was up by 470 points to close at 11,577.94 and the S&P SL increased by 194.48 points to end at 3, 936.81 on a Rs. 4.2 billion turnover.

Comments

Still No Comments Posted.

Leave Comments

Most Reviews

July 11, 2024

- 1275 - 0

Colombo Fort Magistrate interdicted

The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.

July 9, 2024

- 451 - 0

Govt employees who refrained from taking part in strike to be rewarded

July 16, 2024

- 320 - 0

MP on open warrant turns up at school event

Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.

July 12, 2024

- 278 - 0

SC refuses interim order on Judges appointments

The Supreme Court today refused interim relief in an application filed by President’s Counsel Senaka Walgampaya seeking an Order from the Supreme Court compelling the President to appoint judges to fill the existing vacancies in the Court Of Appeal.

July 10, 2024

- 278 - 0

Deadline extended for G.C.E. A/L applications

The deadline for online applications to the 2024 G.C.E. Advanced Level (A/L) Examination has been extended until July 12, the Department of Examinations said.

July 12, 2024

- 191 - 0