Key Takeaways
- Sri Lankan shares closed lower for the eighth consecutive session.
- The CSE All-Share index fell 0.60% to 21,697.72 points.
- Industrial Asphalts (Ceylon) PLC and Agstar PLC were among the top percentage losers.
Sri Lankan shares continued their downward trajectory on Thursday, marking an eighth consecutive session of losses. This streak is the longest since September 2024, according to market data.
The CSE All-Share index closed at 21,697.72 points, reflecting a decline of 0.60% from the previous day’s close. The broader market saw losses across various sectors, with no significant sectoral outperformance observed.
Among the top percentage losers were Industrial Asphalts (Ceylon) PLC and Agstar PLC, which fell by 12.5% and 8%, respectively. These declines contributed significantly to the overall negative sentiment in the market.
Trading volume on the CSE All-Share index decreased from 210.2 million shares in the previous session to 119.5 million shares. The equity market’s turnover also dropped, reducing from 2.26 billion Sri Lankan rupees ($4.3 million) to 1.44 billion rupees.
Foreign investors were net sellers, offloading stocks worth 133.5 million Sri Lankan rupees, while domestic investors remained active as buyers, purchasing shares worth 1.40 billion rupees. This indicates a mixed sentiment among investor groups but with foreign investors taking the lead in selling activity.
The persistent losses and reduced trading volumes suggest ongoing market concerns or external factors affecting investor confidence. Analysts are closely monitoring these developments to understand the underlying causes of this prolonged downturn.
Market watchers will be looking for any positive indicators that could signal a reversal of this trend, such as improved economic data or policy announcements that might boost investor sentiment.
