Shares extend gains on financials; post weekly loss

Reuters: Shares rose for a third straight session on Friday on the back of gains in financial and industrial stocks, although the index booked its biggest weekly decline in over six months.

The benchmark stock index closed up 1.3% at 5,798.72 on Friday. It lost 4.2% this week, the most since mid-March.

Shares of Asiri Hospitals and John Keells Holdings were the biggest boosts to the index, rising 13.6% and 1.5%, respectively. Carson Cumberbatch fell 6.6% and was the top drag on the index.

Trading volume on the CSE All Share Index rose 49.2% from the previous session to 214.04 million. 

The most heavily traded companies by volume on the index were freight firm Expolanka Holdings PLC, Browns Investments PLC, and salt-based products maker Raigam Wayamba Salterns PLC.

Foreign investors were net sellers in the equity market, offloading Rs. 253.2 million ($1.37 million) worth of shares, according to exchange data.

The rupee was quoted at 184.2 against the US dollar by 1240 GMT, 0.03% lower compared with the last session’s close of 184.15, according to Refinitiv data. Equity market turnover was Rs. 3.05 billion, data showed.