Sri Lankan shares closed lower as financials, industrials fall

Sri Lankan shares closed low on Monday, hurt by losses in financials and industrials sector stocks.

The CSE All-Share index fell 0.73% to 9,181.22 rupees on Monday, falling most since May 29.

The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters.

Expolanka Holdings and LOLC Finance were the top losers on the index, falling 1.7% and 1.8% respectively, according to Refinitiv data.

Trading volume for the CSE All-Share index fell to 29.9 million shares, from 55.4 million in the previous session.

Sri Lankan shares end lower hurt by industrials and consumer discretionary

The equity market’s turnover fell to 580 million Sri Lankan rupees($1.90 million), from 1.88 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers in the equity market, offloading stocks worth 40.5 million rupees of shares, while domestic investors were net buyers purchasing stocks worth 552.2 million rupees on a net basis, the data showed.