Key Takeaways
- Sri Lankan shares closed lower on Wednesday.
- Dialog Axiata and Carson Cumberbatch were the biggest contributors to the decline.
- Foreign investors were net sellers, while domestic investors were net buyers.
Sri Lankan shares experienced a downturn on Wednesday, with the CSE All-Share index settling 1.4% lower at 19,796.06 points.
The decline was primarily driven by communications and consumer discretionary stocks, with Dialog Axiata and Carson Cumberbatch experiencing significant drops of 2.98% and 4.86% respectively.
Trading volume increased to 101.8 million shares from the previous session's 78.9 million shares, indicating heightened market activity.
The equity market’s turnover also saw an increase, rising to 1.9 billion Sri Lankan rupees ($5.74 million) from 1.15 billion rupees in the previous session.
Despite the overall decline, foreign investors were net sellers, offloading stocks worth 46.5 million rupees, while domestic investors were net buyers, purchasing shares worth 1.86 billion rupees.
These transactions highlight the ongoing dynamics between foreign and domestic investment in the Sri Lankan market.
