Colombo bourse firing up with new government

News

The Colombo Stock Exchange on Thursday was seen holding on to the bullish momentum displayed since Monday, following Sri Lanka’s presidential election over the weekend and new President Anura Dissanayake taking office.

The All Share Price Index was up 246.36 points to stand at 11,906.07 while the S&P SL20 was 107.18 points up to stand at 3,474.63 with Rs. 70.2 million turnover by 10 am.

A stock market analyst said that it seems brokers are excited about good governance, a corruption-free system, and educated, competent people getting appointed to ministries. Dilshan Wirasekera, Chairman, Colombo Stock Exchange, told the Times Online that this is also post-election optimism. “It is an undervalued market. It is an undervalued market. And so, it is also correcting the pre-election drop,” he added. (DEC)

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