Sri Lankan stocks were up on Friday on thin turnover with analysts saying trades in John Keell’s Holding (JKH) propped the market up.
They noted that the rise in the indices is quite misleading in the backdrop of an unstable political environment. JKH share buyback is bringing the market up considerably, they added.
They said that the majority of local and foreign investors are staying away from the market due to the situation in the country.
There has been Rs. 100 billion outflow from both stocks and bond markets todate and a 17 per cent currency depreciation of the rupee so far this year.
“The situation looks pretty bad. In this backdrop it is hard to sustain the Colombo stock market rising,” an analyst said.
The All Share stood at 6,002.77, up by 0.17 per cent at close with S&P up by 0.28 per cent to close at 3,168.57 on a Rs. 241 million turnover. (DEC)
The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
The Supreme Court today refused interim relief in an application filed by President’s Counsel Senaka Walgampaya seeking an Order from the Supreme Court compelling the President to appoint judges to fill the existing vacancies in the Court Of Appeal.
Gazette on new speed limit regulations to be issued within two weeks
Two underworld criminals wanted for multiple crimes, including murder, were brought from Dubai to Sri Lanka, today (12).
Senior DIG Nilantha Jayawardena has been sent on compulsory leave pending disciplinary investigation over his failure to prevent the Easter Sunday bombings.
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