Colombo Stocks Decline continues

Colombo Stocks closed further lower at 1.4% Monday the November 15th in a wide selling pressure with a continuing correction in slim trade.
Prices continue to drop, negatively affecting hopes of a rebound prior to budget proposals. Brokers noted that optimists may still feel the prices would bounce back within the next week.
The All Share Price Index (ASPI) closed at 6,507.15, points fallen by 1.41% through a 92.91 points fall when Milanka Index (MPI) dropped by 1.81% with 129.47 points ending the trades at 7,028.48 according to data.
Turnover was at Rs.760.8 million up by 17.39%compared to November 12th whilst a total of 25.6 million changed hand in hand by a 26% rise with foreign purchases recording Rs.104.4 million (up by 223.30%) and foreign sales at Rs.37.1 million a downturn by 18.6%. Meanwhile Price to forward Earnings Ratio (PER) tumbled by 1.61% at 24.5 times. Source by: Asian tribune.com