Sri Lankan shares snap 6-session losing streak on consumer, property gains
Sri Lankan shares closed higher, snapping a six-session losing streak, on Thursday as gains in consumer discretionary and real estate stocks outweighed losses in IT and energy stocks. The CSE All-Share index settled up 0.33% at 20,880.90. SMB Finance PLC and Waskaduwa Beach Resort PLC were the top percentage gainers on the CSE All-Share index, rising 33.33% and 13.33%, respectively. Trading…
Sri Lankan shares closed essentially unchanged on Wednesday, following a decline in the prior session. The CSE All Share index ticked down 0.02% to 20,812.93 points. The nation's central bank maintained its benchmark interest rate at 8.75% on Wednesday. Meanwhile, Sri Lanka's inflation rate accelerated, with the Colombo Consumer Price Index climbing 8% year-over-year in September, up from the 8% increase in August.
Among the top performers were SMB Finance PLC, which surged 33.3%, and Softlogic Capital PLC, which jumped 9.9%. Conversely, Hotel Sigiriya PLC experienced the steepest decline at -10.2%, while Lighthouse Hotel PLC fell 7.6%. Trading activity on the CSE All Share index declined to 58.8 million shares, down from 69.6 million in the previous session.
The market's turnover reached 1.55 billion Sri Lankan rupees, up from 1.01 billion rupees the day before. Foreign investors were net sellers, offloading stocks worth 162 million rupees, whereas domestic investors were net buyers, purchasing shares worth 1.46 billion rupees, according to exchange data.
Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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