Sri Lankan shares log third straight weekly loss as utilities weigh

Sri Lankan shares closed lower on Friday as losses in utilities and consumer staples stocks outweighed gains in healthcare and materials, leaving the benchmark down for a third straight week. The CSE All-Share index settled down 0. 2% at 21, 405. 41, ending the week 1. 7% lower and bringing its losses over the past three weeks to about 4. 5%. Harischandra Mills PLC and Dialog Finance PLC were the top percentage losers on the CSE All-Share index, falling 3. 63% and 3. 3%, respectively. Trading volume on the index fell to 31. 9 million shares from 43. 3 million in the previous session. The equity market’s turnover fell to 722. 6 million Sri Lankan rupees ($2. 15 million) from 1. 49 billion rupees in the previous session, according to exchange data. Foreign investors were net sellers, offloading stocks worth 123. 9 million rupees, while domestic investors were net buyers, purchasing shares worth 707. 2 million rupees, the data showed.

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