Business

Entry of new, respected market regulator boosts Colombo shares

28 January 2015 - 226   - 1

The Colombo bourse on Wednesday toasted the respected Thilak Karunaratne's assumption of office as Chairman of the Securities and Exchange Commission (SEC) with share prices getting a tremendous boost, brokers said.

They also added that the Central Bank Monetary Board’s decision to continue with unchanged interest rates helped the core All Share Index to gain by 0.3 per cent to stand at 7,389.54 while the S&P SL20 index simultaneously gained 0.2 per cent to stand at 4,138.71 by 11.15 am.

Mr. Karunaratne, a former SEC chairman, is replacing Nalaka Godahewa who was appointed by former President Mahinda Rajapaksa after an objection by some powerful investors including Dilith Jayaweera saying harsh rules by the SEC were diminishing the market.

The allegations were levelled at former chairperson Indranee Sugathadasa as well. Both Sugathadasa and her successor Karunaratne were highly respected but powerful business interests led to their resignation, one after the other.

The turnover was Rs. 474.7 million at this time. Like what was witnessed yesterday, Blue chips JKH, Commercial Bank, Distilleries and Chevron gained interest today entering the top turnover list. (Duruthu)

  Comments - 1

  • ST Wednesday, 28 January 2015 04:22 PM

    A "tremendous boost" you say ? This article is so bias. Poor ST. Reporting ethics at it's lowest levels.

    Reply : 0       0

    Leave a comment



Top Stories

Educational supplies awarded to deserving vision impaired students

The Sri Lanka Council for the blind, as the forerunner and the principal service provider organisation for the vision impaired in Sri Lanka organis...

23 August 2019 - Views : 3

Case against Gnanasara Thero for obstructing police officers fixed for Nov 1

23 August 2019

AG instructs appointment of appropriate senior officials to probe high profile cases

23 August 2019

Rs 254 million fines collected from drunk drivers since July: Police

23 August 2019



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">

 

Features & Analysis

How concept bookstore 'Venpaa' in Jaffna is meeting a need for Tamil literature

'Venpaa' in Tamil refers to a branch of classical Tamil poetry. Bearing this classic Tamil name, a distinctiv...

In pictures : Groundbreaking ceremony for 'Fantasy Island' theme park at Battaramulla

Waters Edge, together with Melchers Project Management Ltd having announced plans to build a theme park overlook...

Bharatha Natyam Recital at the Swami Vivekananda Cultural Centre

A Bharatha Natyam Recital by Anuka King will take place at the Swami Vivekananda Cultural Centre (SVCC), Hi...

Discovery of exoplanets by Lankan Team

For the first time in the island’s history, a group of Sri Lankans has discovered a new extra-solar planetary s...



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">