Stock market posts worst weekly fall since April

COLOMBO: Sri Lankan shares suffered its second consecutive day of losses to post their third straight weekly fall, hurt by a decline in industrial and financial stocks, Reuters reported.

The CSE All-Share index settled 1.45% lower at 9,049.52. For the week, the index declined 8.88%, its biggest weekly loss since April 1.

Conglomerate Expolanka Holdings Plc and LOLC Holdings Plc were the top drags on the index, both falling 2.4%.

Trading volume on the CSE All-Share index was at 69.7 million shares on Friday.

The equity market turnover was 2.08 billion Sri Lankan rupees ($5.78 million), according to exchange data.

Foreign investors were net buyers in the equity market, purchasing 185.8 million rupees of shares, while domestic investors were net sellers, offloading stocks worth 2.06 billion rupees, data showed.