The year 2011’s first trading session at the Colombo bourse ended on positive grounds with the main index ASPI appreciating by 22.09 points.
However the liquid MPI depreciated marginally by 0.04 points, news360.lk reported.
The plantation sector gained investor interest with counters of Kegalle, Balangoda and Agalawatta receiving specific attention. 128 counters saw price appreciation while 61 counters saw losses.
Foreign investor selling was more than buying thus recording a net foreign outflow of Rs. 57 million. The day’s turnover stood at Rs. 1.97 billion.
Stock Brokers say the Colombo Stock Exchange has a vast potential amidst volatility which is inherent to any capital market in any part of the world. Hence the care should be given to invest in “companies” and not “stocks”, they said.
BMS Stock Brokers in its weekly report outlines that the market currently has a number of companies with solid fundamentals and trading with low multiples, news360.lk said.
It adds investing in such companies will inevitably ensure a decent return in the future.
During the 4th quarter of 2010 the Colombo Stock Exchange has lost 400 points or 5.5%, which brokers say is an indication that the current market is a “buyers” market.
Stock markets in Mongolia and Sri Lanka were the best performers in the world last year.