Sri Lankan shares fall for fourth straight week

Sri Lankan equities extended their decline on Friday, with the CSE All-Share closing 0.17% down at 19,684.91 points. Business Recorder reported that utility shares weighed on the market, which recorded a fifth consecutive daily loss.

The index lost 2.52% over the week, marking four weekly declines in succession. Dialog Axiata Plc and Carson Cumberbatch Plc led the day’s fallers, dropping 9.7% and 9.1%, respectively, while trading volume shrank to 31.5 million shares from 64.3 million. Turnover also eased to 825.1 million Sri Lankan rupees, or $2.48 million, from 1.10 billion rupees in the preceding session. Foreign investors bought a net 55.1 million rupees of shares, whereas local investors sold a net 807.6 million rupees, exchange data showed.