Sri Lankan shares extend losing run on broader losses

Sri Lankan shares closed lower on Monday for the fourth straight session, dragged by broad-based losses as markets stayed cautious amid the ongoing conflict in Middle East.

The CSE All-Share index settled 3.47% lower at 20,939.26 points.

Communication services shares fell 4.93%, real estate stocks lost 4.45% and consumer discretionary shares shed 4.07%.

Autodrome and Ceylon Land & Equity were the top percentage losers on the index, falling 20.6% and 12.17%, respectively.

Trading volume on the index rose to 588 million shares from 149.6 million shares in the previous session.

The equity market’s turnover rose to 6.59 billion Sri Lankan rupees ($21.17 million) from 5.27 billion rupees in the previous session, according to exchange data.

Foreign investors net bought stocks worth 97 million rupees, while domestic investors net sold shares worth 6.55 billion rupees, the data showed.