Sri Lanka’s main stock index gains over 4%

COLOMBO: Sri Lanka’s main stock index gained over 4 percent to end at more than one-month high driven by positive sentiments of political stability hopes following the appointment of opposition legislator Ranil Wickramasinghe as the new prime minister, dealers said.

The main All Share Price Index (ASPI) closed 4.43 percent or  343.79 points up at 8,098.41 at the close, its highest close since April 8, the official data showed.

The most liquid index S&P SL20 up 5.52 percent or 139.56 points to close at 2,669.73.

Market analysts have said that investors were disappointed with the way the island’s politics was moving despite the people’s call for transparency and stability.

The day’s turnover was 2.18 billion rupees, its highest since April 29 and nearly half of this year’s average daily turnover of 4.2 billion rupees.