Sri Lanka stock market hit by curfew announcement

COLOMBO: Sri Lanka stocks fell 0.55 percent as the government’s announcement for an island wide curfew till Aug. 30 and the central bank’s monetary policy rate hike weighed on the sentiment, brokers said in an Economy Next report.

Colombo All Share Price Index (ASPI) lost 45.47 points to close at 8,214.61, but S& P SL20 index of more liquid stocks gained 0.05 percent or 1.57 points to close at 3,048.64.

With several allies of the ruling coalition and influential Buddhist monks appealing to the President Gotabaya Rajapaksa to go for a lockdown, the government announced a 10- day lockdown period from 1000pm on Aug. 20 till 0400am on Aug. 30.

Unexpected 50 basis points monetary policy by the central bank also weighed on the sentiment.

The central bank maintained an accommodative monetary policy with record low interest rates until Thursday’s hawkish measure.