Sri Lankan shares slipped on Tuesday after three straight sessions of gains, weighed down by losses in telecom and industrial stocks.
The CSE All-Share index closed 0.18% lower at 9,071.53 after gaining more than 1% during the session. It is still up around 17% so far this month after a 12-day rally.
Data released after market hours on Monday showed Sri Lanka’s National Consumer Price Index soared 66.7% year-on-year in July after a 58.9% rise in June, as the country battles a severe economic crisis.
NCPI captures broader retail price inflation across the island nation and is released with a lag of 21 days every month.
Sri Lanka Telecom was the biggest drag on the index, tumbling 10.5% after surging nearly 75% over the last three sessions.
Conglomerate Expolanka Holdings slipped 1.7%, while lender LOLC Development Finance jumped 6.6% after a 37.4% dive on Monday.
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Trading volume rose to 154.4 million shares from 130.1 million shares in the previous session.
The equity market turnover was 4.93 billion Sri Lankan rupees ($13.67 million), according to exchange data.
Foreign investors were net buyers in the equity market, purchasing 88.3 million rupees worth of shares, while domestic investors were net sellers, offloading 4.86 billion rupees worth of shares, data showed.
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