Sri Lanka shares edge down in mid-day trade
ECONOMYNEXT – Sri Lanka stocks were marginally down in the first hour of trade on Thursday (07) on some positive sentiments as the policy rates were not hiked to expected levels.
The main All Share Price Index 0.45 per cent or 32.08 points to 7,085 at 1130 hours.
“We see a little stability in the market because the policy rates were only hiked by 100bps whereas the market expected it to be more but because of the major adjustment in auction yields and market yields it was limited,” a top market analyst said.
“Therefore now the market believes that the other rates too will adjust at a lower level.”
The most liquid index S&P SL20 fell 0.47 percent or 10.55 points to 2,236.49.
Market turnover was 590 million rupees.
Top losers were Sampath Bank, Ceylon Tobacco Company and HNB. (Colombo/Jul07/2022)
