Sri Lankan shares end lower as industrials drag

Sri Lankan shares end lower on Wednesday, hurt by industrials stocks.

The CSE All Share index settled 0.25% lower at 8,892.37 on Wednesday.

An International Monetary Fund (IMF) staff team will arrive in Sri Lanka on Thursday, a statement from the global lender said as the crisis-hit country prepares for the first review of a loan programme in September.

The delegation will visit Sri Lanka during May 11-23 as part of regular consultations ahead of the first review mission later this year, the IMF said in a statement.

Expolanka Holdings Plc and Browns Investments Plc were the top losers on the CSE All Share, falling ~1.6% and 3.6%, respectively.

Sri Lankan shares end lower, snapping three consecutive sessions of gains

Trading volume on the index fell to 17.9 million shares from 28 million in the previous session.

The equity market’s turnover fell to 415.3 million Sri Lankan rupees ($1.31 million) from 667.8 million rupees in the previous session, according to exchange data.

Foreign investors were net buyers, purchasing stocks worth 18.2 million rupees, while domestic investors were net sellers, offloading shares worth 413.7 million rupees, data showed.