Sri Lankan shares inch lower as financial stocks drag

Sri Lankan shares closed lower on Tuesday, weighed down by a drop in financial stocks.

The CSE All-Share index fell nearly 0.1% to 11,878.92 rupees. The index has fallen for seven of the twelve sessions in July.

Commercial Bank of Ceylon PLC and Amana Bank PLC dragged on the CSE All-Share index, declining 0.5% and 1.8%, respectively.

Trading volume more than doubled to 62.4 million shares from 29.2 million in the previous session.

Sri Lankan shares close higher, led by financial stocks

The equity market’s turnover fell to 1.08 billion Sri Lankan rupees ($3.56 million), compared with 1.56 billion rupees in the previous session, according to exchange data.

Foreign investors were net buyers in the equity market, purchasing stocks worth 292 million rupees, while domestic investors were net sellers, selling shares worth 1.04 billion rupees, data showed.