Oct 3 (Reuters) - Sri Lankan shares closed lower for
third straight session on Monday, due to sharp losses in
industrial and energy companies.
* The CSE All-Share index, coming of its biggest
quarterly gain in 12 years, settled 2.83% lower at 9,649.86, its
lowest since Sept. 8.
* The Colombo Stock Exchange said in the final hour of the
session that trading had been halted for rest of the day due to
a drop of more than 5% in the S&P SL20 index.
* "Sri Lanka reduced its petrol prices unexpectedly by 40
rupees over the weekend, which sparked a sell-off on Lanka IOC
shares. Shareholders were clearly hoping for continued high
prices and that is being reflected in the market," said Sanjeewa
Fernando, head of research at CT CLSA.
* Lanka IOC, the local unit of Indian Oil Corp
, was among the top drags on the market, dropping as
much as 7.2% in its biggest intraday loss since Aug. 15. The
stock closed 6.9% lower.
* Conglomerates Expolanka Holdings Plc and LOLC
Holdings Plc also weighed on the index, falling 12.5%
and 4.8%, respectively.
* Trading volume on the CSE All-Share index rose to 125.4
million shares on Monday, from 99.4 million in the previous
* The equity market turnover was 2.54 billion Sri Lankan
rupees ($7 billion), compared with 2.58 billion rupees in the
previous session, according to exchange data.
* Foreign investors were net buyers in the equity market,
purchasing 52.6 million rupees worth of shares, while domestic
investors were net sellers, offloading 2.53 billion rupees worth
of stocks, data showed.
* Despite the losses in the last two sessions of last month,
the CSE All-Share index had clocked a gain of 35.26% from July
to September, its biggest quarterly jump since September, 2010.
* For a report on global markets, click
($1 = 362.9000 Sri Lankan rupees)
(Reporting by Anuran Sadhu in Bengaluru and Uditha Jayasinghe
in Colombo; Editing by Savio D'Souza)