Shares rise for fourth session as industrial stocks gain

Reuters: Shares rose for a fourth straight session, closing at more than a five-month high on Friday, helped mainly by gains in industrial stocks.

The benchmark CSE All Share Index ended 0.50% higher at 5,261.99, its highest closing level since 10 March.

Sri Lanka’s June trade deficit narrowed year on year to $161 million, according to data from the Central Bank that came after market closed. 

Conglomerate John Keells Holdings PLC and Lion Brewery (Ceylon) Plc were the biggest boosts to the index, climbing 4.3% to Rs. 124.60 and 6.9% to Rs. 598.90, respectively.

Foreign investors were net sellers, offloading Rs. 1.24 billion ($6.76 million) worth of shares, according to exchange data.

Trading volume on the CSE All Share Index rose to 119.3 million shares from 63.2 million in the previous session.

Equity market turnover was Rs. 3.41 billion.

The rupee was quoted at 183.50 against the dollar as of 1200 GMT, according to Refinitiv data.