ECONOMYNEXT – Sri Lanka shares closed down on Thursday after a Central Bank rate cut the previous day.
“Market closed down by about 37 points today. In the morning session, we saw a bit of an uptick. But then it was short-lived,” an analyst said.
“There are uncertainties around the IMF and also the upcoming budget, whether there could be more taxes. That’s playing a bit on the index.”
The main All Share Price Index was down 0.34 percent or 37.84 points to 11,042.95, while the more liquid S&P SL20 was down 0.27 percent or 8.46 points to 3,112.82.
Turnover was 672 million.
“We saw a bit of turnover coming from John Keells. However, that was on the foreign trading side.
“Media reports about restructuring State-owned enterprises (SOE) through a holding company created a bit of a positivity on the market. Specifically around Lanka Hospitals and SLT. So, the related companies had a bit of a positive impact from that.”
“Later on there was some interest from the primary dealers.” (Colombo/Oct5/2023)