Business

Colombo shares gain on new regulator at SEC, hopes on inflation reducing

28 January 2015 - 98   - 0

 

The Colombo bourse on Wednesday cheered the new regulator Thilak Karunaratne at Securities and Exchange Commission (SEC) with analysts saying that an expected reduction in inflation following the tax cut on fuel and other key commodities announced in the Government’s ‘100-Day Programme’ is weighing positive in the traders' sentiment.

They also added that the Monetary Board’s decision to continue with unchanged interest rates helped the core All Share Index to close at 7,395.29, having increased by 0.38 per cent, while S&P SL20 index simultaneously gained 0.32 per cent to stand at 4,143.72.

Mr. Karunaratne is replacing Nalaka Godahewa who was appointed by former President Mahinda Rajapaksa after complaints by some powerful investors saying harsh rules by the SEC were diminishing the market.

The turnover soared to Rs. 1.3 billion and blue chips JKH, Commercial, Distilleries and Chevron gained interest today entering the top turnover list.

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