Colombo shares gain after factoring policy rate hike

Business

The Colombo Stock Exchange opened lower on Friday reflecting the higher policy rates that were increased by the Monetary Board the same day by 100 basis points.

However, there was upwards momentum and it gained at the close as the market had already factored in the rate hike, analysts said.

There was buying interest on the back of cheaper prices with traders riding on a 'buy the dip' mentality, analysts added.

LIOC moved on the news that IOC will supply fuel to Sri Lanka with stockbrokers saying that there was large speculation on this share.

The All Share Price Index was up by 80.83 points to close at 11, 243.49 points and the S&P SL increased by 54.45 points to end at 3, 819.44 on a Rs. 3 billion turnover.

Comments

Still No Comments Posted.

Leave Comments

Most Reviews

May 31, 2025

- 475 - 0

Flt Lt Kasun Cumaratunga , more than a pilot, a guardian remembered on his 37th death anniversary

Kasun, was born in 28th Sept 1964, the grandson of the legendary author and linguist Munidasa Cumaratunga and son of SSP Bindu Kumaratunga and Winifred

June 2, 2025

- 444 - 0

National Tax week launched

The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.

June 2, 2025

- 346 - 0

SriLankan Airlines’ new A330 Fleet to perform low fly past over Colombo on Wed.

May 29, 2025

- 259 - 0

Mahindananda and Nalin Fernando Jailed

Former Sports Minister Mahindananda Aluthgamage and former Sathosa Chairman Nalin Fernando have sentenced to 20 and 25 years respectively after they were found guilty in a case of fraud.

May 30, 2025

- 254 - 0

In Pix: Weather situation in Colombo

June 3, 2025

- 183 - 0

Krishanthi Kumaraswami convicts FR dismissed by SC

The Supreme Court today unanimously dismissed a Fundamental Rights petition filed by five convicts in the 1996 Krishanthi Kumaraswamy abduction, rape, and murder case.