Sri Lankan stocks close 8-week high as industrials soar – Markets
Sri Lankan stocks rose for a fourth consecutive session on Tuesday to close at their highest level in more than eight weeks, boosted by industrial stocks.
The CSE All-Share Index ended up 1.79% at 7,907.52, its best one-day percentage gain since July 15.
Heavyweights LOLC Holdings and Expolanka Holdings rose 4.6% and 4.5% respectively.
The country of 22 million people is unable to afford essential imports such as fuel and medicine due to a severe shortage of foreign currency.
Sri Lankan stocks end higher on consumer impulse
The World Bank does not plan to provide new financing to Sri Lanka, which is battling its worst economic crisis in decades, until the country has put in place an adequate macroeconomic policy framework, the lender said. last week.
On the CSE All-Share Index, trading volume rose to 93.5 million shares from 75.7 million shares in the previous session.
Stock market turnover was 2.38 billion Sri Lankan rupees ($6.70 million), down from 1.82 billion rupees in the previous session, according to data from the exchange.
Foreign investors were net sellers in the stock market, unloading 239 million rupees worth of shares, while domestic investors were net buyers, buying 2.16 billion rupees worth of shares, the data showed.