Stock market gains by over 3% within minutes of opening

Thursday, 12 May 2022 11:27 -     - {{hitsCtrl.values.hits}}

The Colombo stock market gained by over 3% within minutes of opening today. By 1130 am,  the active S&P SL20 index was up by 3.5% and benchmark ASPI up by over 3%. Turnover however was moderate at over Rs. 660 million. Analysts said investor sentiment got a boost with early signs of peaceful resolution of political instability after President Gotabaya Rajapaksa's address to the nation last night and likelihood of UNP Leader Ranil Wickremesinghe being appointed as Prime Minister and a new all party Cabinet as an interim measure. The CSE was closed for two days after Monday’s anti-government incidents countrywide.