Sri Lankan shares settle lower, dragged by IT and communication services

Sri Lankan shares closed lower on Thursday, dragged by losses in Information technology and communication services stocks.

The CSE All-Share index fell 3.2% to 23,652.51.

Hunter & Company PLC was the biggest loser on the CSE All-Share index, falling 13.2%, while Office Equipment was the biggest gainer with a 25% rise.

Trading volume rose to 224.2 million shares from 170.9 million shares in the previous session.

The equity market’s turnover rose to 4.84 billion Sri Lankan rupees ($15.65 million), compared with 3.35 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers of shares worth 58.9 million Sri Lankan rupees in the equity market, while domestic investors were net buyers of shares worth 4.83 billion Sri Lankan rupees, data showed.