Sri Lankan shares edge lower as communication services, IT stocks weigh
Sri Lankan shares closed lower on Tuesday, as losses in communication services and IT stocks outweighed gains in utilities and energy. The CSE All Share index settled down 0.24% at 21,262.13. The island nation’s economy grew by 4.2% year-on-year from April to June, the statistics department said on Tuesday. Tess Agro and Colombo Fort Land were the top percentage losers on the CSE All Share index,…
Sri Lankan shares experienced a slight decline on Tuesday, as communication services and IT stocks underperformed and offset gains in utilities and energy sectors. The CSE All Share index closed 0.24% lower at 21,262.13 points. The nation's economy expanded by 4.2% year-on-year in the April to June quarter, according to the statistics department.
Tess Agro and Colombo Fort Land were among the top percentage losers, with declines of 5.3% and 5%, respectively. Trading volume on the CSE All Share index decreased to 55.8 million shares from the previous day's 56.2 million. Despite this, the market's turnover increased to 2.23 billion Sri Lankan rupees ($6.76 million) from 1.55 billion rupees in the prior session.
Foreign investors were net sellers, offloading stocks worth 112.4 million rupees, while domestic investors emerged as net buyers, purchasing shares worth 2.18 billion rupees.
Brief written by urgent.news from Business Recorder's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
