Business

Colombo traders cash in on gains

29 January 2015 - 121   - 0

Colombo shares was down on traders cashing in on their gains during the past three days, while 2015 interim budget by Finance Minister Ravi Karunanayake on Thursday, despite the market rising at the start driven by positive expectations.

This budget promised to restore GSP Plus facility, while Private sector was urged to increase wages by Rs.2,500 per month from February. Mr. Karunanayake said that Rs. 2.5 billion will be saved by reducing the number of ministers. “We need to find revenue for the budget but in a way that will not burden the people.”

The Benchmark All Share Index lost 0.3 per cent to close at 7,380.86 per cent with S&P SL index losing 0.13 per cent to end at 4,138.15 according to provisional data. Analyst said that traders were making quick profits while the turnover soared to Rs 1.2 billion.

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