IT, utilities drag share market lower

Sri Lankan shares closed lower, hurt by losses in utilities and IT stocks.

The CSE All Share index settled down 0.36% at 22,292.28, snapping a four-day winning streak.

Tess Agro PLC and Namunukula Plantations PLC were the top percentage losers on the CSE All Share index, falling 5.3% and 3.13%, respectively.

Trading volume on the CSE All Share index fell to 314.6 million shares from 390.9 million in the previous session.

The equity market’s turnover fell to 5.64 billion Sri Lankan rupees ($18.62 million) from 5.74 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 526.4 million rupees, while domestic investors were net buyers, purchasing shares worth 5.45 billion rupees, the data showed.