ECONOMYNEXT – Sri Lanka shares closed down on uncertainties around the Israel-Gaza war, and upcoming budget.
“The overall market remains flat after the sell-down from yesterday,” an analyst said, “which resulted in the price index declining by 257 points.
The main All Share Price Index was down 0.06 percent or 6.71 points to 10,817.53, while the more liquid S&P SL20 was down 0.21 percent or 6.38 points to 3,041.32.
Turnover was 673 million.
“That shows the bad sentiment with a bit of uncertainty regarding the geo-political tensions, as well as the pending tax hikes that may be on the cards in the upcoming budget, which also affected the sentiment.”
“In terms of activity, there was a bit of activity on the capital goods sector, selling pressure, as a result of the relaxation of the import ban that was on.”
There was a net foreign outflow of 75 million. “There was also a bit of selling pressure coming from the foreigners on the banking sector.” (Colombo/Oct10/2023)