Shares end higher to post first weekly gain in 3 weeks

Saturday, 8 May 2021 00:51 - - {{hitsCtrl.values.hits}}

Reuters: Shares closed higher on Friday, for a third straight session, boosted by gains in industrial and financial stocks.

The CSE All-Share Index climbed 0.75% to end at 7,242. For the week, the index rose 0.5%, its first weekly gain in three weeks.

Sri Lanka reported 1,895 new COVID-19 cases on Thursday, while overall deaths reached 745, according to a Johns Hopkins University tally.

The South Asian island nation last month imposed fresh curbs on public gatherings.

Conglomerate LOLC and tile manufacturer Royal Ceramics PLC were among the top boosts to the index, gaining 2.2% and 7.5%, respectively.

Trading volumes rose to 124.8 million from 85.2 million in the previous session.

Foreign investors were net sellers in the equity market, offloading shares worth Rs. 996 million Sri Lankan ($ 5.08 million), according to exchange data.

Equity market turnover was Rs. 2.78 billion.