FINANCIAL CHRONICLE – The Colombo Stock Exchange in Sri Lanka experienced a further decline on Monday, driven by increasing selling pressure amid escalating tensions in West Asia.

Dimantha Mathew, the Chief Research and Strategy Officer at First Capital Holdings PLC, commented, “The ongoing conflicts and rising oil prices are contributing to a prevailing sense of negativity in the market.” He added, “There is no fundamental reason for the change in sentiment, as investments are shifting from equities to fixed income due to the rise in interest rates.”

The All Share Price Index fell by 0.80 percent, equating to a drop of 170.60 points, concluding the day at 21,234.81. Meanwhile, the S&P SL20 index decreased by 0.72 percent, or 43.39 points, finishing at 5,956.29.

The total turnover for the day reached 2.63 billion rupees, with 184 companies reporting negative performance, 60 showing positive results, and 43 remaining neutral.