Broad-based losses drag Sri Lankan shares lower

COLOMBO: Sri Lankan shares closed lower on Monday, dragged by losses across sectors, led by IT and real estate stocks.

The CSE All Share index settled down 1.89% at 16,765.4. Sri Lanka’s consumer prices rose 0.6% year-on-year in May, official data showed on Monday, as the economy recovers from its worst financial crisis in decades.

Muller & Phipps PLC and Tess Agro PLC were the top percentage losers on the CSE All Share index, falling 14.3% and 12.5%, respectively. Trading volume on the CSE All Share index rose to 193.4 million shares from 98.9 million in the previous session. The equity market’s turnover fell to 2.49 billion Sri Lankan rupees ($8.28 million) from 2.5 billion rupees in the previous session, according to exchange data.