Sri Lanka stocks slip over 1-pct in mid-day trade on overall uncertainity in the market | Sinhala News

Sri lanka News – Sri Lanka shares slipped over 1 percent in mid-morning trade on July 04 on weak sentiments as the market expects a further hike in policy rates.

“We are reverting to the negative. The overall uncertainty on all fronts from political to economic therefore we are expecting there to be a rate hike on Thursday,” a top market analyst said.

“This is creating a bit of cloud and we may see this continue further.”

The main All Share Price Index slipped 1.01 percent or 75.17 points to 7,382 at 1150 hours.

The liquid index S&P SL20 fell1.12 percent or 26.64 to 2,353.

Market generated a turnover of 933 million rupees.

Top losers – Sampath Bank, Browns Investment and Expolanka. (Colombo/Jul04/2022)

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