Sri Lankan shares fell for a second straight session on Wednesday as political uncertainty after a defeat of the two ruling coalition parties in a local poll hurt investor sentiment. The ruling coalition government of President Maithripala Sirisena's centre-left Sri Lanka Freedom Party and Prime Minister Ranil Wickremesinghe's centre-right United National Party suffered defeats in a local election over the weekend. The results also raised concerns over the future of the unity government amid pressure from the opposition parties to dissolve the parliament.
The two ruling parties have set up a committee on Tuesday to examine the future of the unity government. The Colombo stock index ended 0.16 percent lower at 6,532.26, further slipping from its highest close since November 8 hit on Friday. The index gained 0.8 percent last week, its third straight weekly rise.
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