Colombo stocks up in early trades

Business

Sri Lanka’s stock market was up in early trades on Wednesday with a stalemate in its political crisis amidst reports of the United National Party (UNP) planning to form a broad electoral alliance with like-minded political parties.

The turnover was at Rs. 10 million by 10.10 am while the main All Share Price Index was up by 0.08 per cent or 4.63 points to stand at 5,952.53 with liquid S&P up by 0.20 per cent or 6.37 points to stand at 3,120.43.

Analysts said that reaching a political compromise in the next few days will be key in order for the market to sustain its momentum.

The country’s political crisis took a new turn when the Parliament met thrice last week to decide who the Prime Minister is in a complicated political tussle that has thrown the country’s democracy into an abyss. (DEC)

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