Shares end higher on consumer, industrial boost

Reuters : Sri Lankan shares snapped two sessions of losses to end higher on Friday, helped by consumer and industrial stocks, after the stock market was closed on Thursday for a local holiday.

The benchmark stock index ended up 1.09% at 6,050.17. It gained 3.26% for the week, marking its fourth straight weekly gain.

Freight-to-investment services provider Expolanka Holdings PLC and leasing company Commercial Leasing & Finance PLC were the top boosts to the index, while insurance underwriter Ceylinco Insurance PLC was the top drag.

Trading volume on the CSE All Share Index on Friday was Rs. 215.06 million, compared with the last full trading day volume of Rs. 142.96 million. 

Foreign investors were net sellers in the equity market, offloading Rs. 745.24 million ($ 4.04 million) worth of shares, according to exchange data. The Sri Lankan rupee was last quoted at 184.4 against the U.S. dollar as of 12:40 GMT, 0.27% higher for the day compared to last session’s close of 184.9, according to Refinitiv data. The currency is down 1.71% so far this year.

Equity market turnover was Rs. 3.24 billion on Friday, data showed.