Colombo shares cheer in the New Year

The Colombo stock market on Friday cheered in the New Year when both indices posted positive gains at market’s close. Analysts said this was welcome – especially with today being the first trading day of the year as they had had a ‘bad’ Decmber. They added that this may have been partly due to the Ajith Nivard Cabraal, the Governor, Central Bank promising to maintain stable policies when he addressed businessmen at the Road Map : Monetary and Financial Sector Policies for 2015 and Beyond in the morning. “Also UNP Parliamentarian Dr. Harsha de Silva promising not to change major economic policies should they win under common opposition candidate Maithripala Sirisena was a welcome sign to those who preferred continuity in terms of the economy,” an analyst said. He added that many traders will be attuned to exciting political developments in the country next week, The core All Share Index  rose  0.68  per cent to  touch  7,348.39 while  the S&P SL 20 index gained 0.52 per cent to close at 4,110.30 on a turnover of Rs. 742 million. Analysts said that crossovers by both camps in the next few days will tip the scales in the market.