Stock Market rises sharply by 2.7%; crosses 6,000 bar

(COLOMBO, LANKAPUVATH) – Euphoric by the early announcement of reconvene the Parliament on November 5, ahead of the prorogued November 16, the Stock Market rose sharply by 2.70% and crossed the 6,000 bar yesterday.(01)

The ASPI closed at 6,114.13 showing a 2.70% increase S&P SL20 of more liquid stocks ended a sharp 4.66 percent higher, up 143.58 points to 3,227.66. The Market turnover was Rs. 1.5 billion.

President Maithripala Sirisena yesterday lifted a suspension of parliament and called a meeting for Monday that could end an increasingly power struggle. This is one reason for the market to display positive signs according to most of the stock brokers.

The bourse ended in green mainly due to the contributions by big cap JKH and DIST, recording a near two months high and the highest intraday surge since June 2012. ASPI witnessed a continuous upward trend during the day reaching an intraday high of 6,123 prior to close the day at 6,114 gaining 161 points.

Both turnover and volumes have increased while nearly 29% of turnover was derived from HNBnet foreign outflow was witnessed with moderate foreign participation

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