Sri Lankan shares slip as IT drags, but notches weekly gain

Sri Lankan shares closed lower on Friday on losses in IT shares, though the benchmark index logged its second consecutive weekly gain.

The CSE All Share index settled down 0.3% at 20,649.20, falling for the second straight session, but gained 2.1% during the week.

Abans Electricals PLC and ACL Plastics PLC were the top percentage losers on the CSE All Share index, falling 2.7% and 1.56%, respectively.

Trading volume on the CSE All Share index fell to 181.2 million shares from 378.3 million in the previous session.

Sri Lanka shares end flat; July inflation rises

The equity market’s turnover dropped to 5.09 billion Sri Lankan rupees ($16.87 million) from 10.53 billion rupees in the previous session, according to exchange data.

Foreign investors were net buyers, purchasing stocks worth 89.1 million rupees, while domestic investors were net sellers, offloading shares worth 5.04 billion rupees, the data showed.