following what brokers described as “very positive” meeting on Friday
with President Mahinda Rajapaksa who was emphatic that the stock market
must be revived.
The market on Thursday gained by 1.5% ahead of President’s meeting
though on Friday it closed almost flat with low activity as brokers and
investors were awaiting the outcome of the capital market stakeholders’
dialogue. Year to date the ASI is down by 20% on top of 8.5% dip in 2011
after two years of bull run.
Contrary to some maintaining President’s forum didn’t trigger
decisions, brokers and investors were pleased that contentious issues
such as overregulation, alleged malpractices, credit rules for brokers
and other challenges facing capital market were thrashed out.