AIRLINK 158.50 Decreased By ▼ -1.46 (-0.91%)
BOP 9.95 Decreased By ▼ -0.02 (-0.2%)
CNERGY 7.72 Increased By ▲ 0.04 (0.52%)
CPHL 87.00 Decreased By ▼ -0.45 (-0.51%)
FCCL 47.00 Decreased By ▼ -0.94 (-1.96%)
FFL 16.36 Increased By ▲ 1.19 (7.84%)
FLYNG 47.67 Decreased By ▼ -3.00 (-5.92%)
HUBC 140.50 Decreased By ▼ -0.23 (-0.16%)
HUMNL 12.49 Decreased By ▼ -0.07 (-0.56%)
KEL 4.40 No Change ▼ 0.00 (0%)
KOSM 5.08 Decreased By ▼ -0.07 (-1.36%)
MLCF 73.70 Decreased By ▼ -1.08 (-1.44%)
OGDC 211.50 No Change ▼ 0.00 (0%)
PACE 5.38 Increased By ▲ 0.02 (0.37%)
PAEL 44.75 Decreased By ▼ -0.59 (-1.3%)
PIAHCLA 16.50 Decreased By ▼ -0.29 (-1.73%)
PIBTL 8.80 Increased By ▲ 0.08 (0.92%)
POWER 14.46 Decreased By ▼ -0.39 (-2.63%)
PPL 175.80 Increased By ▲ 3.41 (1.98%)
PRL 32.49 Decreased By ▼ -0.94 (-2.81%)
PTC 22.00 Decreased By ▼ -0.72 (-3.17%)
SEARL 86.50 Increased By ▲ 0.14 (0.16%)
SSGC 35.85 Increased By ▲ 0.16 (0.45%)
SYM 15.11 Decreased By ▼ -0.17 (-1.11%)
TELE 7.48 Increased By ▲ 0.02 (0.27%)
TPLP 9.11 Increased By ▲ 0.19 (2.13%)
TRG 62.62 Decreased By ▼ -0.77 (-1.21%)
WAVESAPP 9.20 Increased By ▲ 0.06 (0.66%)
WTL 1.27 Increased By ▲ 0.01 (0.79%)
YOUW 3.62 Decreased By ▼ -0.01 (-0.28%)
BR100 12,767 Decreased By -59.9 (-0.47%)
BR30 37,723 Decreased By -109.9 (-0.29%)
KSE100 119,690 Increased By 40.5 (0.03%)
KSE30 36,565 Decreased By -36.4 (-0.1%)

Sri Lankan shares settled nearly 1% lower on Tuesday due to losses in industrial and consumer stocks after the country hiked fuel prices to combat its debilitating economic crisis.

The CSE All-Share index closed 0.96% lower at 8,393.47, snapping two straight sessions of gains.

The embattled nation delivered the long-flagged fuel price hike increase earlier in the day, taking another step in its bid to mend public finances.

Tourism-dependent Sri Lanka is in the throes of its worst economic crisis since independence in 1948, as a dire shortage of foreign exchange has stalled imports and left the country short of fuel and medicines, and struggling with rolling power cuts.

Sri Lanka shares extend gains as financial, industrial stocks rise

Analysts at U.S. investment bank JPMorgan have warned rising borrowing costs and the global fallout of the Russia-Ukraine war could see up to 10% of riskier, ‘junk’-rated emerging market countries suffer debt crises this year.

The equity market turnover was 2.32 billion Sri Lankan rupees ($6.54 million) on Tuesday.

Trading volume rose to 308 million shares from 153.3 million shares in the previous session.

Foreign investors were net buyers in the equity market, snapping up shares worth 49.2 million rupees, while domestic investors were net seller with 2.29 billion rupees worth of shares sold, according to exchange data.

Comments

Comments are closed.