Sri Lankan shares end lower; post weekly gains – Markets

Sri Lankan shares posted a weekly gain after three straight weeks of losses, even as they inched down on Friday, dragged by utilities stocks.

The CSE All-Share index settled 0.4% lower at 23773.64 points for the session, but posted a weekly gain of 0.27%.

Utilities stocks fell 1.43%, communication services dropped 0.57%

Office Equipment and Hunter & Company were the top two percentage losers on the index, down 10.13% and 6.94%, respectively, on the day.

Trading volume on the index fell to 138.8 million shares from 275.6 million shares in the previous session.

The equity market’s turnover fell to 3.89 billion Sri Lankan rupees ($12.58 million) from 4.91 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 101.2 million rupees, while domestic investors were net buyers, purchasing shares worth 3.8 billion rupees, the data showed.

Sri Lankan shares posted a weekly gain after three straight weeks of losses, even as they inched down on Friday, dragged by utilities stocks.

The CSE All-Share index settled 0.4% lower at 23773.64 points for the session, but posted a weekly gain of 0.27%.

Utilities stocks fell 1.43%, communication services dropped 0.57%

Office Equipment and Hunter & Company were the top two percentage losers on the index, down 10.13% and 6.94%, respectively, on the day.

Trading volume on the index fell to 138.8 million shares from 275.6 million shares in the previous session.

The equity market’s turnover fell to 3.89 billion Sri Lankan rupees ($12.58 million) from 4.91 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 101.2 million rupees, while domestic investors were net buyers, purchasing shares worth 3.8 billion rupees, the data showed.