Colombo shares gain after SL appoints new cabinet

13 January 2015 - 154   - 0

The Colombo share market started off on a positive note on Tuesday morning withparticipation by both retailers as well as institutional and high networth investors, amidst the highly-charged political setting, brokers said. Analysts said the market is seeing some stability after Sri Lanka's new president, Maithripala Sirisena announced an interim cabinet on Monday evening saying he would carry out reforms to fight corruption in the 100 days to a parliamentary election. Interest was seen in the banking sector counters such as HNB and Sampath just before mid day with the core ASPI posting a marginal 0.03 per cent to be at 7,569.26 while the S&P SL20 index increased 0.32 per cent to be at 4,275.58. The turnover rose to Rs 710 million. Unlike the previous government of Mahinda Rajapaksa which had a total of 67 ministers, President Sirisena has limited his cabinet to 27.  

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