Sunday, January 29, 2023


Sunday, January 29, 2023

Sri Lanka shares climb over 2-pct in mid-day trade on positive sentiments

Sri Lanka shares gained over 2 percent in mid-day trade on Monday (11) on positive sentiments stemming from a change in the country’s political environment however uncertainties among the investors remained, brokers said.

The main All Share Price Index moved up 2.17 percent or 153.69 points to 7,234.38 at 1130 hours.

“The market is moving up on the sentiments that there will be some political change,” a top market analyst said.

However, there are still doubts about whether the president will actually step down on July 13 meanwhile there are a lot of questions on what’s going to happen next; will an interim government be former, what will happen to the IMF discussions.”

The most liquid index S&P SL20 gained 3.36 percent or 75.46 points to 2,320.29.

However, the market generated a turnover of 415 million rupees.

The analyst said the low turnover despite the main indexes moving up is an indication that most investors are on a wait-and-see approach due to the uncertainties.

Top gainers were Sampath Bank, Expolanka and Browns Investments.

Courtesy: EconomyNext

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