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Sri Lanka’s shares edge down in mid day trade

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ECONOMYNEXT – Sri Lanka’s shares edged down in mid shares, as investors are confused on the directions given by the government and the International Monetary Fund (IMF), an analyst said.

Sri Lanka still needs adequate assurances from other bilateral creditors for its program to be approved, the International Monetary Fund said, after Paris Club lenders said they will re-structure debt.

“As soon as adequate assurances are obtained and remaining requirements are met, including by the Sri Lankan authorities, the EFF arrangement for Sri Lanka can be presented to the IMF’s Executive Board for approval that would unlock much needed external financing,” a statement by the IMF said.

All Share Price Index was down by 0.29 percent or 25.70 points to 8,936.67, while the most liquid index S&P SL20 was down by 0.35 percent or 9.79 points to 2,757.69. The market generated a revenue of 1.1 billion rupees.

“The market is swaying and is volatile on decisions and news coming out from the IMF and the government which is moving the sentiment sideways,” the analyst said.

Top losers during 1130 hours were DFCC, LIOC and Aitken Spence. (Colombo/Feb10/2023)

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