Sri Lankan shares rise decline as industrial stocks weigh

Sri Lankan shares closed lower on Thursday, lifted by gains in industrial and consumer discretionary stocks.

The CSE All-Share index declined nearly 0.4% to 23,900.89. On Wednesday, the index notched a 0.1% gain, helped by real estate stocks.

Conglomerate Office Equipment and Kerner Haus Global Solutions were the biggest drags to the CSE All-Share index, sliding 12.9% and 7.5%, respectively.

Trading volume dropped to 277.3 million shares from 347.1 million in the previous session.

The equity market’s turnover dipped to 6.92 billion Sri Lankan rupees ($22.4 million), compared with 6.94 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers of shares worth 76.4 million rupees in the equity market, while domestic investors were net buyers of shares worth 6.87 billion rupees, data showed.