Shares edge up as consumer staples stocks gain

Reuters: Shares edged up on Wednesday, resuming their winning run a day after snapping a 15-day rally, led by gains in consumer staples stocks.

The benchmark stock index ended up 0.4% at 6,655.67. It rose 0.6% in the past week and is up 8.6% for the year so far.

Sri Lanka revised its 2020 first quarter GDP contraction to 1.65% y/y from an earlier estimate of 1.6% contraction.

Sri Lanka Central Bank said November 2020 manufacturing PMI rose to 57.6 points from 40.3 points in the previous month. 

Trading volume on the CSE All Share Index was 410.41 million compared to 221.31 million on Tuesday.

Browns Investment Plc and Brown & Company Plc were the biggest boosts to the index, ending up 13.5% and 12.5%, respectively.

Foreign investors were net sellers in the equity market, offloading Rs. 192.66 million ($1.03 million) worth of shares, according to exchange data.

The Sri Lankan Rupee was quoted at 186.9 against the US Dollar as of 11:02 GMT, 0.11% lower for the day compared to last session’s close of 186.7, according to Refinitiv data. The currency is down 3.09% so far this year.

Equity market turnover was Rs. 3.44 billion, data showed.