Shares close lower as industrials slump

Reuters: Shares ended lower on Friday, as industrial stocks slumped and financials slipped.

The CSE All-Share Index fell about 1.3% to close at 7,232.65 points. The index is up about 6.8% for the year.

Tiles and sanitary ware maker Royal Ceramics Lanka PLC and conglomerate Lanka ORIX Leasing Company PLC were the top drags to the index, plunging 90.8% and 2.4%, respectively. According to media reports, Chinese Defence Minister Wei Fenghe is set to go to Sri Lanka on 27 April on a three-day visit.

Trading volumes fell to 103.9 million from 139.3 million in the previous session.

Foreign investors were net sellers in the equity market, offloading about Rs. 156 million ($ 808,290.16) worth of shares, according to exchange data.

Equity market turnover was Rs. 2.37 billion, exchange data showed.

The rupee was quoted at similar levels as on Thursday at 193 against the dollar, as of 1213 GMT, according to Refinitiv data.