Shares snap two-day winning streak to end lower

Friday, 21 February 2020 00:12 - - {{hitsCtrl.values.hits}}

REUTERS: Markets fell after two straight days of gains, weighed down by financial, industrial and consumer discretionary stocks.

The benchmark stock index closed 0.30% lower at 5,830.51. The index is down 4.9% so far this year.

Trading volume on the CSE All Share index, when compared to the last full trading day, was 110.4% higher at 23.1 million. Sri Lanka Telecom, John Keells Holdings and Lanka ORIX Leasing Company were the biggest drags on the CSE index, falling about 2%, 0.5% and 1.2% respectively.

The most heavily traded companies by volume on the CSE index were Teejay Lanka, Browns Investments and Melstacorp.

Foreign investors were net sellers in the equity market, offloading Rs. 217 million ($ 1.20 million) worth of shares, according to exchange data.

The rupee was last quoted at 181.55 against the US dollar as of 12:46 GMT, 0.19% higher for the day compared to last session’s close of 181.9, according to Refinitiv data. The currency is down 0.14% so far this year.

Equity market turnover was about Rs. 736 million, data showed.