Wednesday, July 22, 2009

Colombo Stock Market rally on IMF loan deal

The Colombo Stock Market continued its positive momentum with the market following the reports that the IMF loan is approved.

Sri Lanka’s share market rose to its highest in more than a year on Wednesday, after the island reached a $2.5 billion loan deal with the IMF, Reuters data showed.

The all-share index was up 20.38 points at 2493.95 at 0410 GMT, its highest level since June 10 last year.

The IMF loan could boost investor confidence and bring in more foreign investors, said brokers.
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