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Sri Lankan shares closed lower for a fifth straight session on Monday on weakness in consumer stocks, with gains in industrial and financial companies capping some of the losses.

At the close of trade, the CSE All-Share index was down 0.64% at 7,424.56. The index on Friday posted a weekly loss of 5.4%.

Asian Hotels and Properties Plc and Nestle Lanka Plc were the top drags, falling 12.6% and 2.6%, respectively.

Conglomerate Expolanka Holdings and Senkadagala Finance Plc were the top boosts to the index, advancing 3.4% and 24.7%, respectively.

Sri Lankan shares post worst week in seven as economic crisis deepens

An International Monetary Fund team arrived in Sri Lanka on Monday for talks on a bailout programme, but time is short for a country just days from running out of fuel and likely months from getting any relief money.

On the CSE All-Share index, trading volume fell to 38.6 million shares, from 62.6 million shares in the previous session.

The equity market turnover was 822.7 million rupees ($2.30 million), compared with 1.24 billion rupees in the previous session.

Foreign investors were net sellers in the equity market, offloading 64.3 million rupees worth of shares, while domestic investors were net buyers, purchasing 798.3 million rupees worth of shares, according to exchange data.

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