CSE All-Share index down 3.37%: Its lowest since Aug. 29

COLOMBO: Sri Lankan shares suffered a third straight day of losses, led by a slump in conglomerate Expolanka Holdings, Reuters reported.

The CSE All-Share index settled 3.37% lower at 8,744.61, its lowest since Aug. 29.

The index had seen its worst weekly loss since early April on Friday.

The market was shut on Monday for a holiday.

The CSE All-Share index is down around 12% so far this month after a three-month rally, and has fallen seven of the last eight sessions.

Expolanka Holdings was the biggest drag on the index, tumbling 13.2% to its lowest since late-April. The stock is down 33% so far this month.

Financial conglomerate LOLC Holdings slid 7.6%, while energy major Lanka IOC PLC sank 8%.

Trading volume on the CSE All-Share index was at 91.3 million shares on Tuesday, compared to 69.7 million shares in the previous session.

The equity market turnover was 3.04 billion Sri Lankan rupees ($8.40 million), according to exchange data.

Foreign investors were net buyers in the equity market, purchasing 864.1 million rupees of shares, while domestic investors were net sellers, offloading stocks worth 3 billion rupees, data showed.