Shares snap fortnight rally as financial stocks drag

Reuters: Shares ended lower on Tuesday, after 15 straight sessions of gains, dragged down by losses in financial stocks.

The benchmark stock index ended down 0.4% at 6,631.89. It rose 0.3% in the past week and is up 8.2% so far this year.

Trading volume on the CSE All Share Index rose to 221.31 million from 168.24 million in the previous session.

Brown Investments Plc and Nestle Lanka Plc were the biggest boosts on the index, ending up 5.5% and 3.3%, respectively.

Conglomerate John Keells Holdings and liquor maker Distilleries Company of Sri Lanka Plc were the top drags on the index, closing down 1.3% and 1.4%, respectively.

Foreign investors were net sellers in the equity market, offloading Rs. 92.5 million ($495,447.24) worth of shares, according to exchange data.

The Sri Lankan Rupee was quoted at 186.7 against the US Dollar as of 10:50 GMT, 0.11% higher for the day compared to last session’s close of 186.9, according to Refinitiv data. The currency is down 2.98% so far this year.

Equity market turnover was Rs. 2.52 billion, data showed.