Sri Lanka stocks turnover plunged ahead of trade union actions

The ASPI fell marginally on the last date of February, but it is up by 3.6% for the month and 8.1% for YTD. The turnover was disappointing as the average monthly turnover was LKR 1.87Bn in Feb and 1.86Bn in January. But foreign inflow was LKR 2.85Bn during the month.

Still, the country is in unknown territory in terms of economic recovery, the IMF bailout package, and the declared election. Trade unions are threatening to declare indefinite actions against the tax increases. All will add further uncertainty at a time when the economy is underperforming.