Sri Lankan shares extended gains from the previous session on Friday to post a third weekly rise, helped by strength in consumer staples and industrial stocks.
At the close of trade, the CSE All-Share index was up 0.67% at 7,731.15. For the week, the index rose 0.12%.
Dairy products maker Kotmale Holdings and conglomerate Richard Pieris & Company were the top gainers on the index, advancing 24.4% and 9.1%, respectively.
The country of 22 million is unable to pay for essential imports such as fuel and medicine due to a severe shortage of foreign exchange.
The World Bank does not plan to offer new financing to Sri Lanka, which is battling its worst economic crisis in decades, until the Indian Ocean nation has an adequate macroeconomic policy framework in place, the lender said on Thursday.
Sri Lankan shares end flat, investors await bailout package
Meanwhile, Sri Lanka’s Colombo Consumer Price Index surged to a record 60.8% in July, compared to a 54.6% rise in June, data from the country’s statistics department showed on Friday after market hours.
On the CSE All-Share index, trading volume rose to 65 million shares from 56.1 million shares in the previous session.
The equity market turnover was 1.59 billion rupees ($4.44 million), up from 1.05 billion rupees in the previous session, according to exchange data.
Foreign investors were net buyers in the equity market, purchasing 30.14 million rupees worth of shares, while domestic investors were net sellers, offloading 1.57 billion rupees worth of shares, the data showed.
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