Sri Lankan shares end lower as financials, communication services stocks drag

BENGALURU: Sri Lankan shares closed lower on Wednesday, pressured by a slump in financials and communication services stocks, as the benchmark logs its third straight session of losses.

The CSE All Share index settled 0.2% lower at 12,353.57.

LOLC Finance and Melstacorp fell 4.1% and 1.6%, respectively, to top losses in the CSE All Share.

Trading volume on the CSE All Share index grew to 124.3 million shares from 118.8 million shares in the previous session.

Sri Lankan shares end lower as industrials weigh

The equity market’s turnover rose to 2.25 billion Sri Lankan rupees ($7.5 million) from 2.03 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth around 519 million rupees, while domestic investors were net buyers, purchasing shares worth 2.17 billion rupees, the data showed.