UNP heading for victory, stockmarket to reflect positive trends

Business

With the United National Party (UNP) heading for victory with the largest number of seats, though short of a working majority, after Monday’s parliamentary poll, the Colombo stock market was expected to reflect positive trends at Tuesday’s trading. Analysts said the UNP, expected to garner little over 100 seats, would be able cobble together a simple, working majority with other parties including the SLFP-section controlled by President Maithripala Sirisena and stake its claim to form a government. Former President and candidate Mahinda Rajapaksa earlier today admitted defeat for the UPFA in an interview with a foreign news agency.

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