Communication services, financials drag down Sri Lankan shares
Sri Lankan shares closed lower on Monday, dragged by communication services and financial stocks. The CSE All-Share index settled 0.3% lower at 20,079.55 points. Dialog Axiata and Commercial Bank of Ceylon were among the biggest drags, down 1.6% and 0.8%, respectively, on the day. Trading volume on the index rose to 54.5 million shares from 48.6 million shares in the previous session. The equity…
Sri Lankan shares experienced a decline on Monday, primarily due to the underperformance of communication services and financial stocks. The CSE All-Share index concluded the trading session 0.3% lower at 20,079.55 points. Among the most significant contributors to the downtrend were Dialog Axiata and Commercial Bank of Ceylon, which both experienced declines of 1.6% and 0.8%, respectively.
The trading volume for the index increased to 54.5 million shares from the previous day's 48.6 million shares. However, the equity market's turnover decreased to 921.2 million Sri Lankan rupees ($2.77 million) from 958.6 million rupees, indicating a less active trading session. Foreign investors were net sellers, offloading stocks worth 22.4 million rupees, while domestic investors were net buyers, adding 899.7 million rupees worth of shares to the market.
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