Defections from Sri Lanka's ruling party have led to Sri Lanka stocks edging down on Tuesday reports Reuters, with presidential polls set to take place in January,
Sri Lanka's main stock index fell 0.19 percent, or 13.52 points, to close at 7,238.05.
A stockbroker was quoted by Reuters as saying,
Defections from incumbent Sri Lankan President Mahinda Rajapaksa's Sri Lanka Freedom Party have led to him losing his two-thirds majority in parliament for the first time in over four years.
Defectors have been crossing over to join Rajapaksa's former health minister Maithiripala Sirisena, who is the opposition candidate competing in presidential elections next month.
Sri Lanka's main stock index fell 0.19 percent, or 13.52 points, to close at 7,238.05.
A stockbroker was quoted by Reuters as saying,
"Sentiment is down due to defections yesterday... Going forward, the market may be sluggish and weaker with more defections expected from the ruling party raising concerns about political stability."
Defections from incumbent Sri Lankan President Mahinda Rajapaksa's Sri Lanka Freedom Party have led to him losing his two-thirds majority in parliament for the first time in over four years.
Defectors have been crossing over to join Rajapaksa's former health minister Maithiripala Sirisena, who is the opposition candidate competing in presidential elections next month.