Consumer stocks drag shares for 2nd session

REUTERS: Shares ended lower for a second straight session on Friday, with consumer staples stocks contributing to over half the session’s losses and weighing on overall market sentiment. The benchmark CSE All Share Index closed 0.74% lower at 5,311.42. The index also ended the week down 0.18%.

Among the session’s top drags, plantation manager Carson Cumberbatch PLC fell 7.9%, while beer maker Lion Brewery (Ceylon) PLC finished down 5.1%. Softlogic Life Insurance PLC rose 7.8% and was the biggest boost.

Trading volume on the CSE All Share Index fell to 53.1 million from 71.6 million in the previous session.

Foreign investors were net sellers, offloading Rs. 297.2 million ($1.61 million) worth of shares.

Equity market turnover was Rs. 1.03 billion, exchange data showed. The rupee was last quoted at 185.05 against the dollar, according to Refinitiv data.