Colombo bourse erases post-budget gains

 

The Colombo bourse plunged on Tuesday erasing the post-budget gains triggered by a the sell-off in the banking stocks. 

The All share index declined by 0.65 per cent to close slightly above 7,000 mark to close at 7,009.99 with S&P SL index dipped by 1.25 per cent to end the session at 3,735.61. 

Banking sector stocks were affected negatively from the budget 2016 and the sub-index fell 1.7 per cent  during the session. The daily market turnover was Rs. 829 million.

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