What’s going on here?
Sri Lankan shares closed higher for the eighth consecutive session, recording their best day in over a year thanks to President Dissanayake’s decisive moves.
What does this mean?
The CSE All Share index surged by 2.87%, reaching 11,659.7 points, marking the biggest single-day gain since July 4, 2023. This rally follows newly elected President Anura Kumara Dissanayake’s decision to dissolve parliament, paving the way for a snap general election. Investors seem enthusiastic about the political shake-up, as Sri Lanka’s sovereign dollar bonds also gained around 2 cents. Top gainers included Industrial Asphalts (Ceylon) and Blue Diamonds Jewellery Worldwide, each rising by 33.3%, showing significant investor interest.
Why should I care?
For markets: Political moves spark investor confidence.
Trading volume on the CSE All Share index climbed to 150.9 million shares from the previous session’s 95.9 million, reflecting…
