Shares end higher as industrials, consumers surge

Reuters: The main stock index closed higher for a fourth straight session yesterday, led by gains in industrial and consumer staple companies.

The CSE All Share index ended 0.53% higher at 6,180.86. The index gained for a fourth straight week, rising 1.6% this week.

Logistics operator Expolanka Holdings and brewer Distilleries Company of Sri Lanka were the top boosts to the benchmark, rising 5.6% and 2.9%, respectively.

Trading volume on the main index rose to 76 million from 69.1 million in the previous session.

Ratings agency Fitch downgraded Sri Lanka on Friday, saying the cut reflects the island nation’s increasingly challenging external-debt repayment position over medium term.

Foreign investors were net sellers, offloading Rs. 83.6 million rupees ($451,525.79) worth of shares, according to exchange data.

Equity market turnover was Rs. 2.10 billion, data showed.

The Sri Lankan Rupee was last quoted at 185.15 against the US Dollar.