Sri Lankan shares dip as communications, financial stocks weigh

Sri Lankan shares closed lower on Tuesday, dragged down by communications and financial stocks.

The CSE All-Share index settled 0.9% lower at 20,077.48 points.

Dialog Axiata and Commercial Bank of Ceylon were the biggest drag on the index, down 1.8% and 0.63%, respectively.

Trading volume on the index rose to 78.9 million shares from 46.6 million shares in the previous session.

The equity market’s turnover dipped to 1.15 billion Sri Lankan rupees ($3.47 million) from 1.19 billion rupees in the previous session, according to exchange data.

Foreign investors were net buyers, purchasing stocks worth 34.1 million rupees, while domestic investors were net sellers, offloading shares worth 1.14 billion rupees, the data showed.