Sri Lanka stocks plunged but foreigners were continued to buy

Sri Lanka stocks fell by 3.12% ASPI and 4.10% S&P SL 20 on Monday (6), which is the lowest in four weeks. The tax increase, growing political uncertainty, and unsustainable peg of LKR to USD at the current level seem to be troubling the sentiments of the domestic investors. But it is the other way around for the foreigners as they have bought LKR 2.5Bn since 7th Feb which was the peak of the net foreign selling.