Tepid response from stock market for IMF news

Indices at the Colombo Stock Exchange (CSE) closed in the red yesterday despite Sri Lanka securing International Monetary Fund Board approval for US$ 3 billion.
Brokers said the good news had already been factored in the market performance and investors yesterday resorted to profit booking after consecutive two days of price gains.
The main All Share Price Index (ASPI) closed 95.5 points or 1 percent down at 9, 604.4 while the more liquid S&P SL20 index fell 50.9 points or 1.8 percent to close at 2, 800.75.
The day’s turnover was Rs.1.47 billion.

The market witnessed a net foreign inflow of Rs.22.4 million taking the year-to-date net inflow to Rs.4.1 billion. 
Asia Securities said frontline stock EXPO, LOFC, LIOC, SAMP, BIL and HAYL closed lower while SLTL continued its upward trend during the session. SLTL’s contribution to day’s revenue was Rs.237 million.
“The breadth of the market ended negative with 76 price gainers and 125 decliners,” Asia Securities said.