CSE closes up, extends rally to 11 sessions

THE Colombo stock exchange closed up yesterday extending a rally into its 11th session with buying interest in capital goods and Blue-chip counters.

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The benchmark ASPI closed Tuesday up 0.47%, gaining 102.30 points to 21,778.60. The active S&P SL20 gained 7.32 points to close up 0.12% at 6,126.53.

Turnover was Rs. 6.27 billion on more than 154.7 million shares traded.

Foreigners were net sellers with a net outflow of Rs. 362.2 million, up from an outflow of Rs. 15.6 million the previous day.

First Capital Research said riding the wave of Monday's bullish surge, the Colombo Bourse yesterday charged ahead once more, fuelled by a powerful rally in Capital Goods and Blue-chip counters.

In the early hours of trading, the market experienced a volatile session marked by notable selling pressure. But the market refused to back down. In a steady and determined climb, it fought its way back, turning red into green.