Broad-based losses drag Sri Lankan shares lower

Sri Lankan shares closed lower on Tuesday, dragged down by losses across all sectors except utilities.

The CSE All-Share index settled 0.74% lower at 23,051.66 points.

Senkadagala Finance and Royal Palms Beach Hotels were the biggest percentage losers on the benchmark index, down 11.5% and 10.5%, respectively.

Trading volume on the CSE All-Share index dropped marginally to 137.8 million shares from 138.7 million shares in the previous session.

The equity market’s turnover declined to 4.44 billion Sri Lankan rupees ($14.4 million) from 4.46 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers of stocks worth 198.2 million rupees, while domestic investors were net buyers, purchasing shares worth 4.34 billion rupees, the data showed.