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Sri Lankan shares extended gains to a fourth straight session on Friday and posted a weekly rise on the back of strength in industrial and financial stocks.

The CSE All-Share index was 1.26% higher at 7,651.19 at the close of trade. The index registered its first weekly gain in four, rising 2.39%.

Conglomerate Expolanka Holdings Plc and LOLC Finance were the top gainers on the index, climbing 2.8% and 5.7%, respectively.

Sri Lanka is currently facing its worst economic crisis in seven decades, unable to pay for essential imports such as fuel and medicine due to a severe shortage of foreign exchange.

India’s top diplomat held talks with the island nation’s president and prime minister on Thursday as India signalled its willingness to go beyond the $4 billion in loans, swaps and aid that it has already provided its cash-strapped neighbour.

Sri Lankan shares snap 5-day losing run as industrials boost

Sri Lanka plans to call China, India and Japan to a donor conference, the country’s prime minister said on Wednesday, amid ongoing talks with the International Monetary Fund (IMF).

On the CSE All-Share index, trading volume rose to 44.7 million shares from 43.7 million shares in the previous session.

The equity market turnover was 1.25 billion rupees ($3.47 million), compared with 1.10 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers in the equity market, offloading 68.6 million rupees worth of shares, while domestic investors were net buyers, purchasing 1.22 billion rupees worth of shares, according to exchange data.

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