Sri Lankan shares gained more than 3% in mid-day trade on Monday, July 11 on positive vibes arising from a change in the country’s political situation, although brokers said investors’ worries remained.

The main All Share Price Index increased by 221.46 points, or 3.13 percent, to reach 7,302.15 points.

‘The market is moving higher on expectations that there would be some political change,’ a renowned market analyst remarked.

There are still questions, though, regarding the president’s ability to leave office on July 13. There are many unresolved issues regarding what will occur next, including whether an interim administration will be established and what will happen to the IMF negotiations.

The most liquid index, the S&P SL20, rose 5.19 percent, or 116.59 points, to 2,361.42.

The analyst claimed that the low turnover despite the major indices’ gains is evidence that most investors are taking a wait-and-see stance in light of the uncertainty.

Sampath Bank, Expolanka, and Browns Investments were the top gainers.