Colombo Stocks continues to rise as Banking Stocks getting heavy demand.

Colombo Stocks continues to rise as Banking Stocks getting heavy demand.

The bench mark Colombo All Share Index was up by 31.90 points to close at 4332.39 while Milanka Index gained 68.70 to close the day at 4918.64. Turnover was 3.67 billion rupees.
Investors are speculating on possible tax cut on heavily taxed Banking Industry after recent import tax cut. Commercial Bank of Ceylon Plc (COMB) was leading the Banking rally with Rs 12.50 gain to close at Rs 267.00 while Hatton National Bank gained twelve rupees to close at Rs 272.00. DFCC Bank closed at Rs 247.75, up 9.50. National Development Bank was up by 8.75 to close at Rs 228.50 while Sampath Bank managed to close at Rs 310.25, up 11.50.
AVIVA NDB Insurance Plc has added Rs 15.25 to its value to close at Rs 225.25. Singer Sri Lanka Plc was up by 13.75 to end the day at Rs 128.75.
Total of 86 companies made gains today while 62 companies lost their market prices. Over 2.5 million shares of Confifi Hotel Holdings Plc traded today but closed 14.75 lower at Rs 210.00. The US Based lubricant Company Chevron Lubricants Lanka Plc lost 5.25 to close at Rs 159.50.
Foreigners were continued to be net buyers with purchases of Rs 513.2 million & sales of Rs 288.1 million.
Brokers feel that demand for banking stocks will continues as investors speculates on the sector.