CSE hit as Expolanka Holdings shares drop 8%

COLOMBO: Sri Lankan shares slid to their worst session in nearly a month, hurt by losses in industrial and energy stocks, Reuters reported.

The CSE All-Share index closed 2.64% lower at 8,267.77, exchange data showed. The index had registered a loss of 2.7% for the previous week.

Sri Lankan markets were closed on Monday for a holiday.

*Conglomerate Expolanka Holdings PLC and energy firm Lanka IOC PLC were the biggest drags on Tuesday, falling 7.7% and 7.1%, respectively.

Trading volume on the CSE All-Share index rose to 46.5 million shares from 28.2 million in the previous session.

The equity market’s turnover was 1.12 billion Sri Lankan rupees ($3.07 million), according to exchange data.

Foreign investors were net buyers in the equity market, purchasing 91 million rupees of shares, while domestic investors were net sellers, offloading stocks worth 1.12 billion rupees, data showed.