Sri Lankan shares closed higher on Tuesday, after five straight sessions of losses, supported by industrial and financial stocks.
At the close of trade, the CSE All-Share index was up 1.05% at 7,502.28
Conglomerate Expolanka Holdings and Senkadagala Finance Plc were the top boosts to the index, rising 5.1% and 18.8%, respectively.
Meanwhile, Sri Lanka’s consumer price index rose 45.3% in May from a year earlier, data from the statistics department showed on Tuesday, accelerating to the highest level since 2015, due to rising food and transport costs.
Sri Lanka, an island-nation of 22 million people, is grappling with its worst economic crisis in seven decades.
Sri Lanka May consumer prices soar 45.3% y/y, highest since 2015
A nine-member delegation from the International Monetary Fund (IMF) arrived in Sri Lanka this week for talks on a bailout package, with the country hoping to borrow about $3 billion and reach a staff-level agreement with the lender by the end of the team’s visit on June 30.
On the CSE All-Share index, trading volume fell to 30.9 million shares, from 38.6 million shares in the previous session.
The equity market turnover was 760.5 million rupees ($2.12 million), according to exchange data.
Foreign investors were net sellers in the equity market, offloading 30.1 million rupees worth of shares, while domestic investors were net buyers, purchasing 739.9 million rupees worth of shares, according to exchange data.
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