Colombo shares gain ahead of Thursday’s mini budget

29 January 2015 - 53   - 0

Colombo equities stretched gains four days in a row on Thursday morning driven by positive expectations ahead of the mini budget, brokers said. The first budget, an interim one, by the new Sri Lankan government is to be presented later on Thursday afternoon in Parliament and expected to contain many essential price concessions to consumers. The benchmark All Share Index reached a high of 7,400.95 with a gain of 0.08 per cent with the S&P SL index gaining 0.1 per cent to stand at 4,152.70 by 10 am. The gains were mainly fuelled by the counters such as Lion Brewery, Hatton National Bank and Carson Cumberbatch. Analysts added that the Central Bank keeping key policy rates steady at record lows without any tightening measures has helped investors buy into shares while they await for clarity from the budget. – ENDS -

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