Shares at record high on earning hope amid polls

Sri Lankan shares CSE hit an all-time high today on bullish earning hopes, shrugging off post-poll uncertainty after the market heavyweight John Keells Holdings JKH.CM posted a healthy quarterly profit. The All-Share Price Index CSE of the Colombo Stock Exchange jumped 1.58 percent or 56.29 to hit a fresh record high of 3610.74 points, surpassing its previous all-time high of 3586.68, hit on Jan. 18.

It closed 1.04 percent firmer at 3591.38 points. The market is closed on Wednesday, when the results of Tuesday's presidential vote are expected to be announced.

 "The market peaked at the last hour as investors bought bluechips," said an analyst on condition of anonymity.

"There was cautious buying in early trade due to poll concerns. But retail investors stepped in after seeing heavy buying in Keells and Touchwood." (Reuters)

  Comments - 0

You May Also Like