ECONOMYNEXT- Sri Lanka shares rose over 3 percent within the first hour of trade on Wednesday (30), pushed up by strong positive sentiments following last weeks Expolanka expansion news and speculation on interest rates to be eased in line with inflation.
“Since last week the market is moving on strong positive sentiments on Expolanka and interest rates to fall in line with inflation, this has also brought in some bargain hunting,” analysts said.
Central bank governor said the market rates should eventually ease despite the fears of a domestic debt restructuring as inflation falls, increased liquidity in dollar markets, and the inter-bank liquidity improves.
All Share Price Index (ASPI) gained by 3.01 percent or 252.05 points to 8,627.26 points. While the most liquid index rose by 3.40 percent or 89.88 points to 2,730.19 points.
The market generated a turnover of 1.6 billion rupees. (Colombo/Nov30/2022)