Sri Lanka shares decline for second consecutive week

Sri Lankan shares closed marginally lower on Friday, dragged by IT and utilities stocks, and fell for a second straight week.

The CSE All-Share index settled 0.15% lower at 20,612.40, and was down 1.8% for the week.

Muller & Phipps (Ceylon) and Kerner Haus Global Solutions were the top percentage losers in the session on the index, down 11.1% and 9.5%, respectively.

Trading volume on the index fell to 141.1 million shares from 267.9 million shares in the previous session.

The equity market’s turnover fell to 5.85 billion Sri Lankan rupees ($19.4 million) from 6.58 billion rupees, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 1.2 billion rupees, while domestic investors were net buyers, purchasing shares worth 5.81 billion rupees, the data showed.