Sri Lankan shares closed higher on Wednesday, underpinned by financial stocks, while investors awaited GDP data due this week for cues on the embattled country’s economic health.
At the close of trade, the CSE All Share index ended 0.44% higher at 8,870.63.
The executive board of the International Monetary Fund is not expected to formally approve Sri Lanka’s $2.9-billion bailout before the year-end, a key step required for the country to receive funding, two sources familiar with the matter told Reuters.
Sri Lanka’s GDP data is expected on Dec. 15.
On the CSE All Share index, LOLC Finance and conglomerate LOLC Development Finance were the biggest gainers, rising 5% and 4.4%, respectively, according to Refinitiv data.
The trading volume rose to 88.8 million shares from 60.9 million in the previous session.
Sri Lankan shares end lower as telecoms, industrials weigh
The equity market’s turnover rose to 3.53 billion rupees ($9.72 million) from 1.35 billion rupees in the previous session, according to exchange data.
Foreign investors were net buyers in the equity market, purchasing stocks worth 1.67 billion rupees, while domestic investors were net sellers who offloaded 3.43 billion rupees worth of shares, the data showed.
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