"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."

The Tamil Civil Society Forum (TCSF) has refused to endorse either presidential candidate in the upcoming Sri Lankan elections.

In a statement released on Tuesday, TCSF said that Tamil suffering under Mahinda Rajapaksa affirmed that "the question of Tamil people voting for the incumbent President just does not arise," while also highlighting that regime change has not historically resulted in improvements for Tamils.

"Both main candidates have not and do not want to take a position on those issues that affect the Tamil people. In fact they are in denial of those problems and have taken positions contrary to Tamil interests. Hence the Tamil people do not have to take a collective stance at the forthcoming elections. To explicitly call for a vote for either of the main candidates will be tantamount to accepting a unitary constitution and to rejecting international investigations," the statement said.

The editor of the Daily News, Rajpal Abeynayake, has referred to Muslim MP Rishard Bathiudeen as “a pig”, after his defection to the common opposition.

Abeynayake expressed his disgust at the defection in a tweet on Tuesday morning.

The MP was industry and commerce minister under President Mahinda Rajapaksa until yesterday, when he announced his decision to join the common opposition, alongside recently appointed national list MP Ameer Ali.

The External Affairs Minister GL Peiris has called on the opposition’s presidential candidate Maithripala Sirisena to provide a clarification on the domestic panel he said he would appoint to investigate war crimes allegations against the military, reported the Daily Mirror.

“This is a matter that will have far-reaching consequences. A clear statement is certainly required from the opposition candidate with regard to the nature of the investigation which he proposes to undertake, the powers and scope of the tribunal he plans to appoint, and the use he plans to make of the findings,” Peiris said.

In less than a month’s time, Sri Lanka will choose a president. In the south of the island the poll is one of the most anticipated in the country’s recent history, with the common opposition candidate Maithripala Sirisena, and his extensive coalition, encompassing the right to the left of Sinhala politicos, widely seen to be a serious challenger to incumbent President Mahinda Rajapaksa. Maithripala’s defection from the SLFP led government, and pledge to abolish the executive presidency and tackle corruption, is being seen by many in the South as an opportunity to effect change on the island and to end Rajapaksa’s reign, which has been characterised by corruption, repression of freedom of expression, nepotism, and an autocratic, despotic leadership style.