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The appointment of Dr.Nalaka Godahewa as the Securities and Exchange Commission Chairman seems to have been able to cast out all the grievances the stockbrokers have had, even perhaps to the utter surprise of Godahewa himself.

Market manipulation would make the Colombo Stock Exchange (CSE) the number one performing stock market in the world soon, UNP National List MP Dr. Harsha De Silva said yesterday.

The statistics by Bloomberg yesterday showed that the Colombo Stock Exchange (CSE) had become the third best performing market in the world during the period from August 10, 2012 to September 10, 2012.

 Three-wheeler registrations dropped sharply from 13,753 registrations recorded last year to 4,340, while motor cycles decreased by 46.3% to 12,181.

Sri Lankan stocks extended gains for a 10th straight session yesterday, jumping 1.73 percent to a seven-month high in strong volume led by blue chips.

Transparency International Sri Lanka (TISL) yesterday called upon the government to take necessary actions to resolve the present situation at the Securities and Exchange Commission (SEC) in a manner that will not negatively impact on market confidence.

United National Party (UNP) MP and economist Dr. Harsha de Silva yesterday lashed out at the new Securities and Exchange Commission (SEC) Chairman and Commissioner Priyantha Fernando, on grounds of conflict of interest.

Sri Lankan stocks yesterday rose 1.2 percent to their highest close since June 20, which dealers said stemmed largely from foreign buying of heavyweight John Keells Holdings.

It is widely speculated that Sri Lanka Tourism Development Authority (SLTDA) Chief Dr. Nalaka Godahewa will be appointed as the Securities and Exchange Commission’s (SEC) new Chairman, following the contentious resignation of Tilak Karunaratne.

Sri Lankan stocks jumped more than 1.6 percent to a two-month high yesterday with foreign investors net buyers for a 23rd straight day as financials led the field.

Some may call it a triumph of the evil and others a victory against tyranny. But all will depend on how the market will respond to the news in the coming few weeks and months to the news of Securities and Exchange Commission (SEC) Chairman Thilak Karunaratne's resignation last Friday.

Although certain investors and a section of the stockbroking community were seen toasting the impending resignation of Securities and Exchange Commission (SEC) Chairman, Tilak Karunaratne on Tuesday and Wednesday by sending market indices up, the market dipped yesterday with thin volumes and poor turnover.

Securities and Exchange Commission Chairman Tilak Karunaratne was forced to resign when he was about to take action against the wrongdoers as per the SEC Act, UNP National List MP Dr. Harsha De Silva charged yesterday.

The head of Sri Lanka’s Securities and Exchange Commission (SEC) yesterday said he was coming under immense pressure to resign on false accusations by some investors under investigation for “pump - and - dump” deals.

In spite of the commendation the Securities and Exchange Commission (SEC) Chief Tilak Karunaratne received from the Committee of Public Enterprises (COPE) last week for ‘excellent performance’, the regulator is believed to be under extreme pressure, which may eventually lead to his stepping down, Mirror Business reliably learns.

The Securities and Exchange Commission (SEC) Chairman Tilak Karunarante had insisted on independence when SEC appeared before the Committee on Public Enterprises (COPE) yesterday, Mirror Business learns.

REUTERS: Sri Lankan stocks rose to a five-week high yesterday on hopes the government will act to revive trading on an exchange that has fallen 18 percent so far this year. Markets were closed on Wednesday for a public holiday.

HONG KONG (AFP) - Asian markets mostly rose Thursday following upbeat earnings results in the region and the United States, while eurozone fears eased slightly on hopes over the funding of future bailouts.

ODEL PLC yesterday announced a significant change of ownership, with Parkson Retail Asia Limited, a Malaysia based department store chain, agreeing to purchase a 41.82 per cent stake in the company for Rs 1.424 billion.

Treasury Secretary Dr. P.B. Jayasundara’s meeting with the SEC Commissioners and the CSE board members yesterday ended up with a consensus to work towards practical solutions to boost the ailing Colombo bourse, Mirror Business learns.