Home Business Sri Lankan shares end higher as industrials, consumer staples gain

Sri Lankan shares end higher as industrials, consumer staples gain

2 min read
Comments Off on Sri Lankan shares end higher as industrials, consumer staples gain
0
32


Article content

Sri Lankan shares closed higher on Wednesday, supported by gains in industrial and consumer staples stocks.

* The CSE All-Share index closed 0.31% higher at 8,293.50, snapping a four-day losing streak, exchange data showed.

Article content

* Sri Lanka’s central bank (CBSL) on Wednesday said the economy has shown signs of stability in the second half of the year thus far, and that it expects the economy to transition into recovery from the latter part of 2023.

* The CBSL, however, said the expected near-term recovery of the economy is “fraught with many challenges” due to the unprecedented scale of the economic crisis, and uncertainties which may require swift policy actions.

Article content

* Conglomerate John Keells Holdings PLC and food and beverage company Cargills (Ceylon) PLC were the top boosts on Wednesday, rising 2.6% and 5.9%, respectively.

* Trading volume on the CSE All-Share index rose to 39.3 million shares from 46.5 million in the previous session.

* The equity market’s turnover was 831.3 million Sri Lankan rupees ($2.29 million), according to exchange data.

* Foreign investors were net buyers in the equity market, purchasing 68.2 million rupees of shares, while domestic investors were net sellers, offloading stocks worth 822.9 million rupees, data showed.

* For a report on global markets, click ($1 = 363.0000 Sri Lankan rupees) (Reporting by Meenakshi Maidas in Bengaluru; editing by Uttaresh.V)



Source link

Load More Related Articles
Load More By 
Load More In Business
Comments are closed.

Check Also

Gucci names De Sarno as creative director with task of reviving brand

Breadcrumb Trail Links PMN Business Author of the article: Reuters Silvia Aloisi and Mimos…