Colombo shares up amidst political stalemate

Colombo shares up amidst political stalemate

Colombo shares were up in early trades on Monday after slumping during the 3-day short week last week with traders buying mid cap stocks, analysts said.

They said the country’s political impasse will weigh down on trader behaviour as the week drags on. International rating agency, Moody downgrading the country’s credit rating due to the political crisis will see more foreign investors moving out, they noted.

The All Share Index was up by 14.49 points or 0.24 per cent to stand at 5,944.47 points with S&P which was up by 0.38 per cent standing at 3,115.02 points by 11.10 am. (DEC)