The Colombo share market started on a positive note on Friday with analysts saying that high valued shares were the order of the day. The core All Share appreciated 0.89 per cent to read 7,103.60 points while the S&P SL index rose by 1.59 per cent to stand at 3,914.92 points on a Rs. 143 million turnover. JKH, like yesterday was contributing most to the turnover by 10 am. Yesterday this share contributed about 65 per cent to the turnover, through negotiated deals on the stock. Today, high net worth and institutional investors were more active at early trading session. Following the 8 January presidential poll win by Maithripala Sirisena, investor response was buoyant but the rapid dip since the mini budget has caused grim concern after it imposed a one-time 'super gain tax' of 25 per cent on companies or individuals who earned over 2 billion rupees profits in 2013/2014. The shares recovered yesterday from a more than five-month low, with analysts saying this was directed mainly by banking stocks on bargain hunting.
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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