Sri Lanka shares end lower as communication services, IT drag

BENGALURU: Sri Lankan shares closed lower on Monday, dragged down by losses in communication services and information technology stocks.

The CSE All Share index settled 1.4% lower at 12,866.65.

Sri Lanka’s central bank is expected to renew the easing of interest rates on Wednesday, with a reduction of a quarter percentage point, as it looks to boost economic growth during the island nation’s recovery from a lingering financial crisis.

John Keells Holdings and Commercial Bank of Ceylon PLC were the top losers on the CSE All Share, falling 26.603 and 11.159 index points respectively.

Trading volume on the CSE All Share index fell to 85.2 million shares from 86.1 million shares in the previous session.

Sri Lankan shares end higher as real estate, healthcare gain

The equity market’s turnover rose to 2.16 billion Sri Lankan rupees ($7.4 million) from 1.90 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 257.2 million rupees, while domestic investors were net buyers, purchasing shares worth 2.05 billion rupees, the data showed.