|16 January, 2020

Sri Lanka shares slip as consumer, financial sector weigh

Sri Lankan shares slid for a second session on Wednesday

A man walks past the stock board at the Colombo Stock Market in Colombo June 25, 2013. Image used for illustrative purpose

A man walks past the stock board at the Colombo Stock Market in Colombo June 25, 2013. Image used for illustrative purpose

REUTERS/Dinuka Liyanawatte

Sri Lankan shares slid for a second session on Wednesday, hit by a drop in financial and consumer stocks which accounted for more than half the day's losses.

** The benchmark Sri Lankan stock index closed down 0.46% at 5,940.99.

** Shares of Gestetner of Ceylon PLC fell 14.1% to a seven-month low and Muller & Phipps (Ceylon) PLC down as much as 11.11% during the session - the top drags on the index.

** Shares of hospital chain Singhe Hospital PLC dropped nearly 6.3%.

** Foreign investors were net buyers in the equity market, taking 2.65 billion Sri Lankan rupees ($14.63 million) worth of shares.

** The Sri Lankan rupee was last quoted at 181.22 against the U.S. dollar as of 12:48 GMT, 0.07% firmer for the day compared to last session's close of 181.35, according to Refinitiv data.

** Equity market turnover was 2.84 billion Sri Lankan rupees, stock exchange data showed.

($1 = 181.1500 Sri Lankan rupees)

(Reporting by Derek Francis in Bengaluru; Editing by Bernard Orr) ((Chandini.M@thomsonreuters.com; 910867497919;))

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