Sri Lankan shares snapped fourth straight sessions of losses on Wednesday, lifted by gains in industrial stocks.
The CSE All-Share index rose 0.16% to 8,380.87, after shedding 1.69% in the last four sessions.
Sri Lanka’s Power Minister Kanchana Wijesekera said on Tuesday the island nation will call for an expression of interest from investors in a new oil refinery in the southern town of Hambantota, which is also the site of a Chinese-built port.
The industrial sector provided the biggest boost to the index.
Among individual stocks, life insurance solutions provider Softlogic Life Insurance Plc and Asian Hotels and Properties Plc were the biggest boost on Wednesday, up 9.9% and 11.1%, respectively, according to Refinitiv data.
Sri Lankan shares extend losses as financials weigh 35
The trading volume for the CSE All-Share index fell to 72 million shares from 95.4 million shares in the previous session.
The equity market’s turnover fell to 1.33 billion Sri Lankan rupees ($3.67 million) from 1.84 billion rupees in the previous session, according to exchange data.
Foreign investors were net sellers in the equity market, offloading stocks worth 31.7 million rupees, while domestic investors were net buyers, purchasing 1.31 billion rupees worth of shares, the data showed.
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