Technology stocks drag Sri Lankan shares lower

Business Recorder reported that Sri Lankan equities ended Tuesday in negative territory, with technology shares weighing on the session. The CSE All-Share index slipped 0.95% to close at 21,318.31 points.

Kelani Tyres Plc and Bansei Royal Resorts Hikkaduwa Plc posted the steepest percentage declines on the index, falling 7.42% and 6.39% respectively. Trading volume edged up to 97.5 million shares, compared with 50.6 million in the prior session, while turnover climbed to 2.32 billion Sri Lankan rupees ($7.08 million) from 1.01 billion rupees.

Overseas investors were net sellers, with outflows of 646.6 million rupees, whereas local investors were net buyers of 2.29 billion rupees, the exchange figures showed. Domestic buying far exceeded the foreign outflow on the day.