Sri Lankan shares ended lower on Thursday, driven by losses in industrials and consumer staples stocks.
The CSE All-Share index fell 0.28% to 8,962.37.
Sri Lanka’s economy is expected to grow again from the end of this year and the government hopes to extricate the country from its economic crisis by 2026, President Ranil Wickremesinghe said on Wednesday.
The island nation has been struggling with its worst economic turmoil since independence from Britain in 1948, which has forced it to default on loans and seek a $2.9 billion bailout from the International Monetary Fund.
Sri Lanka is currently focused on getting financing assurances from key bilateral creditors China and Japan.
India, the third major creditor to Sri Lanka, agreed to support the country’s debt restructuring last month.
Sri Lankan shares close higher as financials climb
Expolanka Holdings Plc and Ceylon Tobacco Company Plc were the biggest drags to the index, down 1.6% and 1.5%, respectively, according to Refinitiv data.
The trading volume on the CSE All-Share index rose to 44.6 million shares from 43.2 million in the previous session.
The equity market’s turnover rose to 1.22 billion Sri Lankan rupees ($3.38 million) from 1.19 billion rupees on Monday, according to exchange data.
Foreign investors were net buyers in the equity market, purchasing stocks worth 278.8 million rupees, while domestic investors were net sellers, offloading 1.22 billion rupees worth of shares, the data showed.
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