Sri Lankan shares dip as communications, financial stocks weigh

Business Recorder reported that Sri Lankan equities ended Tuesday in negative territory, with telecom and lender shares pulling the market lower. The CSE All-Share index shed 0.9 per cent to finish at 20,077.48 points. Dialog Axiata led the decline with a 1.8 per cent fall, while Commercial Bank of Ceylon slipped 0.63 per cent.

The number of shares changing hands grew, reaching 78.9 million against 46.6 million in the earlier session. Turnover, however, eased to 1.15 billion Sri Lankan rupees, equal to $3.47 million, compared with 1.19 billion rupees earlier. Exchange figures showed foreign buyers added 34.1 million rupees of stock while local investors sold a net 1.14 billion rupees.

The session combined heavier trading volume with lower turnover value. Flow figures indicated domestic holders were the main sellers.