Sri Lankan shares extend rally on consumer staples strength
- The benchmark stock index ended up marginally at 6,614.56 and has gained 7.9pc so far this year.
BENGALURU: Sri Lankan shares ended higher for a 14th straight session and sixth straight week on Friday, led by gains in consumer staples stocks.
The benchmark stock index ended up marginally at 6,614.56 and has gained 7.9pc so far this year.
S&P slashed Sri Lanka's credit rating to "CCC+/C" on Friday, citing concerns that risks to the island nation's debt servicing capacity have risen as the COVID-19 pandemic has squeezed the government's ability to generate earnings.
Trading volume on the CSE All Share Index fell to 305.87 million from 476.73 million, compared to the last full trading day.
Melstacorp Plc and Hemas Holdings Plc were the biggest boosts to the index, gaining 14.1pc and 4.1pc, respectively.
Foreign investors were net sellers in the equity market, offloading 184.1 million rupees ($987,660.94) worth of shares, according to exchange data.
The Sri Lankan rupee was last quoted at 186.35 against the U.S. dollar as of 10:44 GMT, 0.3pc lower for the day compared to last session's close of 185.8, according to Refinitiv data. The currency is down 2.79pc so far this year.
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