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Markets

Sri Lankan shares close flat as industrials weigh

  • The benchmark stock index ended 0.01% lower at 6,108.22, after rising to 6,143.34 during the session.
  • Conglomerate Richard Pieris and Company PLC slid 3.9% to its lowest since Nov. 5.
18 Nov 2020

Sri Lankan shares gave up early gains to close flat on Wednesday, as losses in industrial stocks offset gains in consumer goods companies.

The benchmark stock index ended 0.01% lower at 6,108.22, after rising to 6,143.34 during the session.

Conglomerate Richard Pieris and Company PLC slid 3.9% to its lowest since Nov. 5.

Liquor maker Distilleries Company of Sri Lanka PLC was the top boost to the index with a 3.8% jump, while Nestle Lanka PLC climbed 2.2%.

The MSCI World index was 0.1% higher at 1013 GMT, as weak US retail sales and a surge in new coronavirus cases tempered market euphoria after recent COVID-19 vaccine breakthroughs.

Trading volume on the CSE All Share Index rose to 117.8 million from 89.7 million in the previous session.

Foreign investors were net sellers in the equity market, offloading 223.9 million rupees ($1.21 million) worth of shares, according to exchange data.

Equity market turnover was 2.45 billion rupees, exchange data showed.

The Sri Lankan rupee was last quoted at 184.65 against the US dollar.

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