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Thursday, June 03, 2010 - 5.20 GMT |
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CSE records highest ever price indices |
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The Colombo Stock Exchange yesterday (2 June) recorded its highest ever All-Share Price Index, Market Capitalization and the second highest daily turnover.
According to the Colombo Stock Exchange Daily Market Report, the All-Share Price Index of the Colombo Stock Exchange hit an all-time high of 4,300.39, surpassing its previous record high of 4,258.80 hit on Tuesday.
The Milanka Price Index (MPI) rose 1.50 % (71.56 points) closing at 4,849.94 points. The total turnover was Rs.9. 6 billion.
The sale of 9.8% stake of Commercial Bank of Ceylon by DFCC Bank to a foreign buyer for Rs.5.8 billion accounted for the rise.
Charith Kamaladasa of Lanka Securities said the foreign buying into Commercial Bank was "positive news" for the market.
"This is a good sign - that foreigners are looking at the market," he said. "Also the motor sector shot up because of the tax reduction."
On the directive of President Mahinda Rajapaksa, the government announced Tuesday concessions on import duties on motor vehicles and some consumer products like watches and cameras.
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