Colombo stock market swung between gains and losses on early trade on Wednesday and was down marginally by 10.30 am, amid the sharp increase in Treasury yields for the fourth consecutive week, analysts said. During the opening hours, All Share Index inclined but lost the momentum by this time. At the weekly T-bill auction, 12 month T-bill yield further increased sharply by 86 basis points (bps) to 6.99 per cent while 3 month and 6 month T-bill yields increased by 91bps and 89bps to 6.89 per cent and 6.98 per cent respectively. The All Share dropped by 0.18 per cent to stand at 7,221.96 with S&P standing at some 4,102.20 after losing 0.15 per cent on a Rs. 199.93 million turnover at 10.30 am.
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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