Sri Lankan shares rose for the fourth straight session on Friday, helped by gains in industrial and financial stocks.
The CSE All Share index rose ~2.8% to 8,718.15 on Friday.
The index rose ~5.5% for the week, the best since Dec. 2, 2022.
Sri Lanka expects to receive financing assurances from China in the next few days that will allow it to move ahead with securing a $2.9 billion bailout from the International Monetary Fund, a government official said on Friday.
Also, India has told Sri Lanka it is committed to boost investment, to help pull the debt-ridden island nation from its worst economic crisis in seven decades, Foreign Minister Subrahmanyam Jaishankar said during a visit to Colombo.
Sri Lankan shares end lower as financials weigh
Conglomerate Expolanka Holdings and LOLC Holdings were the biggest boosts to the index on Friday, up 4.6% and 2.8%, respectively, according to Refinitiv data.
The trading volume for the CSE All Share index fell to 89.98 million shares from 98.19 million in the previous session.
The equity market’s turnover rose to 2.24 billion Sri Lankan rupees ($6.19 million) from 1.86 billion rupees in the previous session, according to exchange data.
Foreign investors were net buyers in the equity market, purchasing stocks worth 178.44 million rupees, while domestic investors were net sellers, offloading 2.13 billion rupees worth of shares, the data showed.
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