Reuters – March 04 Sri Lankan shares edged down for a fifth straight session on Friday to a near 2-yr low in thin trade as concerns over rising interest rates and a ratings downgrade pushed investors away from risk assets, traders said.
Sri Lanka’s benchmark share index closed 0.06 percent lower, or 3.50 points, at 6,057.22, the lowest close since April 7, 2014.
Its next support level is expected to be 5,800 points, analysts said.
“Declining trend is continuing with the selling pressure remaining. There are no buyers to take up the huge quantities which are to be sold,” said Dimantha Mathew, head of research, First Capital Equities (Pvt) Ltd.
“Increasing interest rates and negative sentiment are continuing with the unclear policy outlook.”