Colombo shares see high turnover amidst SC’s pending decision

News

Sri Lanka’s stock market was up on high turnover generated by ODEL transfers at Tuesday’s close at 2.30 pm amidst a three judge bench of Sri Lanka's Supreme Court (SC) order pending on the decision of whether dissolving the legislature was legal.

Later in the evening, at around 6 pm, the court temporarily suspended the Presidential gazette dissolving Parliament pending the hearing of several petitions challenging President Maithripala Sirisena’s November 8 decision to dissolve parliament and call a parliamentary poll in mid-January 2019. The petitions will be heard early next month.

The main All Share Price Index was up by 0.02 per cent to stand at 5,981.21 points at close with liquid S&P up by 0.06 per cent standing at 3,104.06 points on a Rs. 6.2 billion turnover. ODEL, a subsidiary of Softlogic Holdings Ltd (SHL), saw 92 per cent of the company amounting to 249 million shares trade on Tuesday on a turnover of Rs. 6.2 billion at the Colombo Stock Exchange (CSE). Analysts said it is believed to be an inter company transfer. In the morning, by 10.30 am it saw Rs. 3 billion worth of trades. SHL has 97 per cent in ODEL. Traders expect share prices to drop tomorrow owing to the SC decision. (DEC)

Comments

Still No Comments Posted.

Leave Comments

Most Reviews

May 31, 2025

- 481 - 0

Flt Lt Kasun Cumaratunga , more than a pilot, a guardian remembered on his 37th death anniversary

Kasun, was born in 28th Sept 1964, the grandson of the legendary author and linguist Munidasa Cumaratunga and son of SSP Bindu Kumaratunga and Winifred

June 2, 2025

- 448 - 0

National Tax week launched

The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.

June 2, 2025

- 351 - 0

SriLankan Airlines’ new A330 Fleet to perform low fly past over Colombo on Wed.

May 29, 2025

- 261 - 0

Mahindananda and Nalin Fernando Jailed

Former Sports Minister Mahindananda Aluthgamage and former Sathosa Chairman Nalin Fernando have sentenced to 20 and 25 years respectively after they were found guilty in a case of fraud.

May 30, 2025

- 259 - 0

In Pix: Weather situation in Colombo

June 3, 2025

- 187 - 0

Krishanthi Kumaraswami convicts FR dismissed by SC

The Supreme Court today unanimously dismissed a Fundamental Rights petition filed by five convicts in the 1996 Krishanthi Kumaraswamy abduction, rape, and murder case.