Business
IT, materials stocks drag Sri Lankan shares lower
IT, materials stocks drag Sri Lankan shares lower
About this update from Smb Finance Plc
Sri Lankan shares closed lower for the fifth straight session on Wednesday, weighed down by losses in information technology and materials stocks. The CSE All-Share index CSELK:ASI settled 0.09% lower at 23,029.86 points. SMB Finance CSELK:SEMB.N0000 and Kotmale Holdings CSELK:LAMB.N0000 were the biggest percentage losers on the benchmark index, down 11.1% and 7.2%, respectively. Trading volume on the CSE All-Share index dropped to 125.4 million shares from 137.8 million shares in the previous session.The equity market's turnover declined to 3.81 billion Sri Lankan rupees ($12.4 million) from 4.44 billion rupees in the previous session, according to exchange data.Foreign investors were net sellers of stocks worth 100.5 million rupees, while domestic investors were net buyers, purchasing shares worth 3.72 billion rupees, the data showed.For a report on global markets, click ($1 = 308.3000 Sri Lankan rupees)