Sri Lankan shares end four-day slide, but log worst week in over two months
Sri Lankan shares closed higher on Friday, snapping a four-session losing streak, although they logged their worst weekly decline in over two months. The CSE All Share index settled up 0.16% at 21,056.26, aided by gains in communication services stocks, but fell 1.6% over the week. SMB Finance PLC and Industrial Asphalts (Ceylon) were the top percentage gainers on the CSE All Share index, rising…
Sri Lankan stocks ended a four-day decline on Friday, despite recording their worst weekly performance in over two months. The CSE All Share index managed to close up 0.16% at 21,056.26 points, buoyed by a rise in communication services stocks. However, the index fell by 1.6% throughout the week.
SMB Finance PLC and Industrial Asphalts (Ceylon) emerged as the top percentage gainers on the CSE All Share index, soaring by 33.3% and 16.7%, respectively. Despite this positive momentum, trading volume on the CSE All Share index dropped to 39.4 million shares from the previous session's 55.4 million shares.
The equity market's turnover remained relatively stable, with 1.34 billion Sri Lankan rupees ($4.05 million) in trading volume on Friday, compared to 1.33 billion rupees in the previous session. While foreign investors were net sellers, offloading stocks worth 27.3 million rupees, domestic investors emerged as net buyers, purchasing shares worth 1.31 billion rupees, according to exchange data.
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