Sri Lanka’s shares edge down in mid day trade on sentiments of the long weekend kicking in dampening investor momentum, an analyst said.
“This week trade is affected with the long weekend for the Sinhalese and Tamil New Year, which has firms closed and on holiday so not much interest has sparked on investing,” Ranjan Ranatunga of First Capital Holdings said.
The main All Share Price Index (ASPI) was down 0.04 percent or 4.05 points to 9,407.64, while the most liquid index S&P SL20 was down 0.55 percent or 15.18 points to 2,754.40.
“The market is flat and weak. Trading volumes are also low,” Ranatunga said.
The market generated a slow turnover of 620 million rupees during the 1230 hours.
Despite the market being on low and slow sentiments, banks are marginally up .
Top losers were Expolanka, Vallibel One and John Keells Holdings, the reason as to why the shares have seen lower interest is cause selling pressures have hit as those were moving counters despite flat and low sentiments.
Source: Economynext