ECONOMYNEXT – Sri Lanka’s shares edged down in mid-market trade on Wednesday (21), following a report on domestic debt re-structuring.
News over Sri Lanka’s sovereign bondholders over domestic re-structuring drove selling on shares, analysts said.
Sri Lanka’s sovereign bondholders are not likely to agree to any deal without domestic debt re-structuring, a media report said, though the island’s authorities are trying to avoid a second domestic restructuring with rupee debt already hit by depreciation and inflation.
Sri Lanka authorities have said a domestic debt re-structure would endanger banks that have already suffered a hit on their capital.
All Share Price Index was down by 0.89 percent or 75.46 points to 8,433.07, while the most liquid index S&P SL20 fell 1.08 percent or 29.23 points to 2,665.22.
The market generated a revenue of 3.9 billion rupees.
Top losers were Expolanka, Sampath Bank and Aitken Spence. (Colombo/Dec21/2022)