Sri Lankan shares suffered its second consecutive day of losses on Friday to post their third straight weekly fall, hurt by a decline in industrial and financial stocks.
The CSE All-Share index settled 1.45% lower at 9,049.52. For the week, the index declined 8.88%, its biggest weekly loss since April 1.
Sri Lanka’s top court has granted permission for proceedings against former President Gotabaya Rajapaksa, the rights group Transparency International, which filed the case against him, said in a statement on Friday.
The case calls for accountability from the island nation’s leadership for its worst financial crisis in more than seven decades.
Meanwhile, Japan’s Finance Minister Shunichi Suzuki said on Friday the country remains committed to back Sri Lanka’s debt restructuring if conditions are met.
Sri Lankan shares drop; central bank holds rates
Conglomerate Expolanka Holdings Plc and LOLC Holdings Plc were the top drags on the index, both falling 2.4%.
Trading volume on the CSE All-Share index was at 69.7 million shares on Friday.
The equity market turnover was 2.08 billion Sri Lankan rupees ($5.78 million), according to exchange data.
Foreign investors were net buyers in the equity market, purchasing 185.8 million rupees of shares, while domestic investors were net sellers, offloading stocks worth 2.06 billion rupees, data showed.
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