Sri Lankan shares fall as real estate, industrials stocks weigh
Sri Lankan shares closed lower on Monday, hurt by losses in real estate and industrials stocks. The CSE All Share index settled down 0.37% at 20,979.18. The island nation’s consumer prices climbed 8.1% year-on-year in August, after rising 7.2% in July, its statistics department said on Monday. Pegasus Hotels of Ceylon PLC and Hunter & Company PLC were the top percentage losers on the CSE All…
Sri Lankan stocks slipped lower on Monday, dragged down by declines in real estate and industrial shares. The CSE All Share index closed at 20,979.18, marking a 0.37% decrease.
The nation's consumer prices jumped 8.1% year-over-year in August, following a 7.2% increase in the previous month, according to the country's statistics department.
Among the biggest losers were Pegasus Hotels of Ceylon PLC and Hunter & Company PLC, with the former falling by 44.4% and the latter by 12.4%. Overall, trading activity rose to 48.7 million shares, up from 39.4 million the day before. However, the market's turnover dropped to 750.3 million Sri Lankan rupees, a significant decline from 1.34 billion rupees the day prior.
Foreign investors acted as net buyers, purchasing stocks valued at 38.7 million rupees. Conversely, domestic investors were net sellers, offloading shares worth 730.8 million rupees, the exchange data revealed.
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