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Sri lanka News – Sri Lanka stocks slipped in mid-day trade on Wednesday (24) pushed down by retail and banking shares, Colombo Stock Exchange data showed.

The main All Share Price Index fell 0.81 percent or 73.92 points to 8,997.61 at 1140 hours.

“We are seeing profit taking in index heavy shares that gained in the previous sessions,” a top market analyst said.

“Meanwhile we are seeing a lot of selling in the banking shares because the investors are speculating a domestic debt restoring to take place.”

Both the central bank governor Nandalal Weerasinghe and the co-cabinet spokesperson have said that a local debt restructuring will not take place as it will collapse the already illiquid banking system.

The most liquid index S&P SL20 fell over 1.35 percent or 40.29 points to 2,949.49.

The market generated a turnover of 1.65 billion rupees.

Top losers were Expolanka, Hayleys and Aitken Spence

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