Colombo bourse good start but on shaky ground

23 January 2015 - 89   - 0


The Colombo Bourse got off on a positive note on Friday morning but didn’t sustain the momentum towards mid-trading session with retailers once again on a selling mode, according to brokers.

Traders are consistently mindful of a new regulator being appointed. “This hasn't happened and most are awaiting a new chairman at the Securities and Exchange Commission," a broker said.

Expectations were running high that Thilak Karunaratne, who quit as chairman of the Securities and Exchange Commission under duress some years ago, was being recalled to the position, he added. Commission chairman Nalaka Godahewa has refused to step down despite being instructed by the government to quit.

The benchmark All Share gained 11.78 points to stand at 7,341.37 points while the S&P SL 20 index lost 1.86 points to stand at 4,105.96 points at mid-day.







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