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Wednesday, January 05, 2011 - 07.12 GMT |
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CSE at 9-wk high
Rupee gains to 2-yr high
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The Colombo stock market yesterday (04) reached a nine-week high with large volume and turnover due to heavy buying by retail investors, while the rupee hit a more than two-year high on dollar sales by exporters.
The CSE rose 43.89 points to 6,701.85, its highest close since Nov. 2. It was Asia's best performer last year, with a 96 percent gain as the peace dividend from the end of the war in May 2009 began to bear fruit, reported Reuters.
The traded share volume was 115 million, higher than the five-day and 30-day average of 51.9 million and 53.2 million, respectively. The 90-day average volume is 63.3 million. The daily average volume was 69.2 million last year.
Foreign investors sold a net 195 million rupees worth of shares. They sold 26.4 billion rupees last year on a net basis, Reuters said.
The bourse is trading at a forward price-to-earnings (P/E) ratio of 17.5, the highest among emerging markets, compared with 13.1 in Asian markets and 12.3 in global emerging markets, Thomson Reuters StarMine data showed.
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