Sri Lanka shares decline for second consecutive week

COLOMBO: Sri Lankan shares closed marginally lower on Friday, dragged by IT and utilities stocks, and fell for a second straight week.

The CSE All-Share index settled 0.15 percent lower at 20,612.40, and was down 1.8 percent for the week.

Muller & Phipps (Ceylon) PLC and Kerner Haus Global Solutions PLC were the top percentage losers in the session on the index, down 11.1 percent and 9.5 percent, respectively. Trading volume on the index fell to 141.1 million shares from 267.9 million shares in the previous session.

The equity market’s turnover fell to 5.85 billion Sri Lankan rupees (USD19.4 million) from 6.58 billion rupees, according to exchange data.