ECONOMYNEXT – Sri Lanka shares closed down on Friday mainly due to the uncertainty in the market around the delay in the IMF second tranche and the upcoming budget, analysts said.
“We saw the market coming down and falling below the psychological barrier of 11,000 as well,” an analyst said.
“However, although the market came down, it came on the back of very thin volume, that is something to be noted.
That means that there is not much of selling in the market, so the limited selling that is there is clearly absorbed, but it’s been very limited.
The main All Share Price Index was down 0.51 percent or 55.83 points to 10,987.12, while the more liquid S&P SL20 was down 0.43 percent or 13.32 points to 3,099.50.
Turnover was 611 million – the lowest since September 25 – this was mainly pushed by trading in the Capital Goods sector.
“John Keells Holdings topped the turnover list today with foreign buying coming in mostly; amounting to 27.7 million net foreign buying.”
There was some interest on the banking sector as well.
Buying activity continued around Lanka Hospitals and Sri Lanka Telecom due to the privatization news. (Colombo/Oct6/2023)