Key Takeaways
- Sri Lankan shares closed lower on Friday, led by energy and utilities losses.
- The CSE All-Share index ended the week marginally up after two weeks of losses.
- Foreign investors were net sellers, while domestic investors were net buyers.
Sri Lankan shares closed lower on Friday, with the CSE All-Share index settling down 0.14% at 21,037.35. This decline was primarily driven by losses in energy and utilities stocks.
Despite the daily drop, the index managed to end the week marginally up, rising 0.009% after two consecutive weekly declines.
Pegasus Hotels of Ceylon PLC and Tess Agro PLC were among the top percentage losers, falling 6.7% and 5.6% respectively, contributing significantly to the overall market downturn.
Trading volume on the CSE All-Share index decreased to 26.5 million shares from 37.8 million in the previous session, reflecting a reduction in market activity.
The equity market’s turnover also saw a decline, falling to 814.9 million Sri Lankan rupees ($2.47 million) from 1.20 billion rupees in the previous session.
Foreign investors were net sellers, offloading stocks worth 207.1 million rupees, while domestic investors were net buyers, purchasing shares worth 801.1 million rupees, according to exchange data.
The market's performance was characterized by a mixed sentiment, with some sectors performing better than others, highlighting the volatility in the current economic climate.
