Sri Lanka shares end lower as industrials, financials drag

BENGALURU: Sri Lankan shares closed lower on Thursday, dragged by losses in industrial and financial stocks, while the country’s central bank resumed interest rate cuts, in line with expectations, to boost growth.

The CSE All Share index settled down 0.3% at 11,042.95.

The Central Bank of Sri Lanka (CBSL) on Thursday lowered the standing deposit facility rate and the standing lending facility rate by 100 basis points each to 10% and 11%, respectively. The cuts followed a decision at the last policy meeting in August to keep rates unchanged.

The rate cut was in line with market expectations and comes amid cooling inflation in the South Asian country.