Sri Lankan shares closed down for a fourth straight day on Friday and suffered their worst week since early July, weighed down by losses in financials.
The CSE All-Share index closed 0.4% lower at 8,793.40. The index fell 2% this week, its worst week since week-ending July 8.
Japan is seeking to organise a Sri Lanka creditors’ conference, hoping it could help solve the South Asia nation’s debt crisis, but uncertainties cloud the outlook for any talks, three people with knowledge of the planning said.
Meanwhile, the British government has relaxed its travel advisory for Sri Lanka, the Foreign Office said in a statement on Friday.
An International Monetary Fund (IMF) team met Sri Lanka’s president on Wednesday for talks on a bailout and another round of discussions are to be held on Friday, according to the President’s Office.
The country is in a severe financial crisis since gaining independence from Britain in 1948, stemmed from the combined impact of the COVID-19 pandemic and economic mismanagement.
Sri Lankan shares see worst day in two months as Expolanka slides
Trading volume slipped to 74.1 million shares from 104.1 million shares in the previous session.
The equity market turnover was 2.29 billion Sri Lankan rupees ($6.34 million), according to exchange data.
Foreign investors were net buyers in the equity market, purchasing 476.2 million rupees worth of shares, while domestic investors were net sellers, offloading 2.22 billion rupees worth of shares, data showed.
Comments
Comments are closed for this article.