The Colombo share market started off on a positive note on Tuesday morning with participation of both retailers as well as institutional and high networth investors amidst the highly fired up political setting, but failed to sustain this momentum after a few hours, brokers said. Analysts said the market is expecting some stability since Sri Lanka's new President Maithripala Sirisena’s government showed some commitment to carry out reforms and to fight corruption in the 100 days to a parliamentary election, but this process is taking time. "This together with no clear direction in policies has set the traders on the back foot,” an analyst said. He added that today’s initial buying was only natural after the large fall during the past few days. According to provisional data, the core ASPI recorded a marginal 0.06 per cent to be at 7,371.38 while the S&P SL20 index decreased 0.13 per cent to close at 4,134.75. The turnover was at Rs. 626.1 million.
Former Chairman of SriLankan Airlines, Nishantha Wickramasinghe, arrested on allegation of corruption by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has been remanded until July 1 by the Colombo Magistrate court.
Deputy Minister of Finance and Economic Stabilization and NPP National List MP Harshana Suriyapperuma who is tipped to be named the next Finance Ministry Secretary resigned from Parliament today.
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