Business

CSE closes 140 points higher on newfound optimism

The Colombo bourse continued its winning streak and ended the week in the green territory with +140 points higher, predominantly driven by mixed investor participation. Furthermore, on Thursday (4), the broader market marked its highest gain since 1 November 2018 and rose by 97.4 points owing to the

Cabinet approval received to carry out some new infrastructure projects, including a cable-car route in Nuwara Eliya worth $ 600 million, Softlogic Stockbrokers said.

Moreover, active foreign interest was evident on John Keells Holdings and Lion Brewery while local appetite centred on Keells Food Products, Lanka IOC, and Commercial Bank. Meanwhile, the average weekly turnover stood at Rs. 553.5 million ($ 3,145.0 k) where average weekly volume stood at 25,392.4 k shares.

Furthermore, foreigners ended the week as net sellers recording an outflow of Rs. 587.4 ($ 3,337.6 k). Additionally, ASPI gained 143.5 points WoW to end the week at 5,515.8 (+2.7% WoW) while the S&P SL20 Index too rose by 97.9 points WoW to close at 2,594.4 (+3.9% WoW).