The Colombo share market was down on Wednesday with panic selling towards its close with retailers as well as institutional and high networth investors cashing in on their investments, brokers said. Expectations are running high and President Maithripala Sirisena’s government is yet to show results in terms of the reforms it was to carry out and to fight corruption in the period before parliamentary election in June, with analysts saying that the magnitude of this task has compelled investors to wait on the sidelines. Institutional interest was seen in the banking sector counters with retail interest in low valued counters towards market’s close. The core ASPI fell by a marginal 0.6 per cent to close at 7,324.40 while the S&P SL20 index decreased 0.72 per cent to close at 4,103.65. The turnover was at Rs. 796.1 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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