Colombo bourse awaits clear direction in budget

 The activities at Colombo bourse  remained relatively dull at the start on Wednesday as investors waited for a clear direction from the November budget, brokers said, adding that as the day wears on it'll show some gains.

"This direction at the start of operations was expected after Tuesday's holiday.  Also it's a short week. The PM’s economic policy statement last Thursday managed to breathe in relief to the capital market and thus elevated investor confidence during the latter part of last week.  Despite the slow performance on Monday (and today at the start), the bourse is likely to show some gains during mid day," a broker said.

Remarks on GSP+ by the Prime Minister last Thursday lifted expectations of textile industry which was reflected through price inclines in both Textured Jersey and Hayleys Fabrics on Monday, he added.

By 10.15 the All Share was down 0.29 per cent to stand at 7,029.50 with 20-scrip S&P SL Index losing 0.72 per cent to show 3,794.46 on a Rs. 42.3 million turnover.

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