ECONOMYNEXT – Sri Lanka shares were down on Tuesday after an extremely slow day of trading.
The main All Share Price Index was down 1.15 percent or 128.89 points to 11,034.87, while the more liquid S&P SL20 was down 1.23 percent or 38.72 points to 3,111.98. Turnover was 854 million.
“The turnover was significantly low. The ASPI fell to a 2-month low today. Primarily it was due to the delay in the IMF second tranche,” an analyst said.
“Selling pressure was also on the high side in the index heavy counters.”
“We feel that it’s more like a panic selling that is going on; not many investors want to do anything until they see the outcome of the policy meeting.”
Trading in capital goods (353,602,103), and diversified financials (Diversified Financials) drove turnover.
Sampath Bank, Melstacorp, and Hatton National Bank traded down in the day.
There was a net foreign inflow of 197 million. (Colombo/Oct3/2023)