Colombo bourse shows signs of early gains

Business

Colombo equities surrendered to early gains on Thursday, breaking the downward slump that lasted eight straight days, analysts said. By Wednesday it had recorded the longest losing streak since February 2014 as rising interest rates continued to weigh on the investor sentiment. Analysts said that foreigners were bargain hunting today, which was a trend seen during the past few days. "The foreign investor appetite was seen as foreign participation crossed 48 per cent of the market activity by yesterday when foreign investors were net buyers," an analyst said. The benchmark All Share Index was up by 0.12 per cent to stand at 7,118.62 today by 11.30 am with the S&P index gaining 0.16 per cent to stand at 4,077.41 on a Rs. 195.7 million turnover by this time.

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