Racing On

The All Share index moved 15 points closer to the psychological 1000 point mark, closing at 969 on Wednesday.

Despite the current gloom surrounding the peace process the market has so far moved up 115 points this June, buoyed by the confidence generated at the Tokyo aid meet.rn

rnBuying is largely from local institutional and retail interest, with the tax amnesty also seeming to chip-in, in a small way.rn

rnldblquote We see some buy orders from investors who have declared assets under the tax amnesty,
dblquote says Hasitha Premaratne, Research Manager at HNB Stockbrokers.rn

rnIf the market continues to be active, HNB Stockbrokers say annual turnover could hit a record high by year-end. rn

rnDaily average turnover this year is about Rs 150 million, already higher than the Rs 146 mn recorded in 1993.rn

rnBut for this to happen, more foreign flows may be needed. rn

rnTo lift the market from the inevitable profit taking around the 1000-point mark, foreign funds would also come handy.rn


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