Over Selling

The euphoria poured over to today trading, taking the benchmark All Share Price Index up 3.39 points to close at 570.08.
The bluechip tracker, the Milanka Price Index closed at 923.38 up 7.34 points from last Friday

Brokers said that the market had no choice but to turnaround, as it was getting a little too stale on the downhill run.

In addition, some brokers said that the general mood of investors was also picking up. However, they added that steady growth in the market would shadow improvements in the economy.

The gains on the indices however, did not help the market to increase its turnover as it only posted Rs. 48.99 million at the close of trading.

Notable transactions came from 238,900 JKH closing at Rs. 50.25. National Development Bank closed 75cts higher at Rs. 61.00 on trades of 171,700 shares.

Pelawatte Sugar traded 605,200 shares to close 25cts higher at Rs. 8.00.