Sri Lankan shares slip as communication, material stocks drag

July 29 (Reuters) – Sri Lankan shares ended lower on Wednesday, dragged by communication and material sector stocks.

** The benchmark CSE All Share Index closed 0.11% lower at 5,094.00.

** Telecom firm Dialog Axiata and retail-to-financial services holding firm C T Holdings Plc were among the biggest drags on the index, losing 2.7% and 11.6%, respectively.

** Dairy products manufacturer Kotmale Holdings Plc and industrial conglomerate Richard Pieris & Company were among the top boosters, advancing ~11% and 4.1%, respectively.

** Foreign investors were net sellers, offloading 303.8 million Sri Lankan rupees ($1.64 million) worth of shares, according to exchange data.

** Trading volume on the CSE All Share Index fell to 43.5 million shares from 51.4 million shares in the previous session

** Equity market turnover was 829.7 million Sri Lankan rupees.

** The Sri Lankan rupee was last quoted at 185.70 against the U.S. dollar as of 1110 GMT, according to Refinitiv data.

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