Stock market soars with Ranil as PM

Friday, 13 May 2022 11:21 -     - {{hitsCtrl.values.hits}}

The Colombo stock market today gained by 5% within minutes of opening as investors apparently cheered the Thursday's appointment of veteran Ranil Wickremesinghe as new Prime Minister by President Gotabaya Rajapaksa. By 11.15 am, the active S&PSL20 index was up by 5.8% and benchmark ASPI by 4.6%. Turnover was robust at just above Rs. 1.1 billion in 45 minutes of trading.  The investor optimism is despite objections to Wickremesinghe as the Premier by the sections of the clergy and political parties.