Sri Lankan shares fall as communication services, utilities stocks weigh

BENGALURU: Sri Lankan shares closed lower on Friday, pulled down by communication services and utilities stocks.

The CSE All-Share index settled 0.4% lower at 12,310.83 points. The index lost 0.03% in the week.

Sri Lanka’s economy grew 5.3% year-on-year in the first three months of 2024, official data showed on Friday. It grew 4.5% in the last quarter.

Harischandra Mills and Diesel & Motor Engineering were top drags on the index, falling 9.1% and 4.2%, respectively.

Trading volume on the CSE All-Share slumped to 44.8 million shares, down from 57.3 million shares in the previous session.

Sri Lankan shares edge lower as communication services stocks drag

The equity market’s turnover fell to 1.28 billion ($4.2 million) from 1.83 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 219.20 million rupees, while domestic investors were net buyers, purchasing shares worth 1.25 billion rupees, the data showed.

Sri Lankan markets will be closed on Monday, June 17, for a holiday. Trading will resume on June 18.