Sri Lanka stocks gain to two-month high on positive sentiments fueled by bank profits
Friday February 24, 2023 8:30 pm
ECONOMYNEXT – Sri Lanka’s stocks gained to close at a two-month high on Friday as the market continues on positive macroeconomic sentiments fueled by higher profits of banks in the December quarter 2022, brokers said.
The All Share Price Index (ASPI) gained 0.65 percent, or 59.88 points, to reach 9,315.87, the highest for the year so far.
“Given that the banking sector is performing well and shows the ability to withstand economic downturns, investors are receiving higher dividends,” an analyst said.
“It may increase their confidence in the bank and further stabilize the market.”
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https://economynext.com/sri-lanka-s...ive-sentiments-fueled-by-bank-profits-113252/