Shares edge lower as energy, industrial stocks weigh

Thursday, 1 October 2020 00:23 - - {{hitsCtrl.values.hits}}

Reuters: Shares fell for a second straight session on Wednesday as industrial and energy stocks declined, although the index booked its best monthly gain in eight years.

The benchmark stock index ended down 0.2% at 5,984.84, retreating further from an eight-month peak scaled earlier this week. For the month, the index gained 12.3%. Trading volume on the CSE All Share Index on Wednesday was Rs. 142.96 million, compared with Rs. 136.1 million in the last full trading session. Shares of Carson Cumberbatch and John Keells Holdings were the biggest drag on the index, closing down 4.1% and 1.2%, respectively.

The most heavily traded companies by volume on the CSE index were freight and logistics company Expolanka Holdings PLC and textile maker Hayleys Fabric PLC.

Foreign investors were net seller in the equity market, offloading Rs. 115.2 million ($622,877.23) worth of shares, according to exchange data.

The Sri Lankan rupee was quoted at 184.9 against the US dollar by 1113 GMT, 0.11% higher compared with previous session’s close of 185.1, according to Refinitiv data. The currency has lost 1.99% so far this year.

Equity market turnover was Rs. 2.07 billion on Wednesday, data showed.