Sri Lankan shares closed higher for a third straight session on Wednesday, supported by gains in financials and consumer staples sector stocks.
The CSE All-Share index rose 0.04% to 9,415.28, high for the week, reversing course after three weeks of losses.
Sri Lanka’s sovereign lenders were yet to inform the government how they would engage with the country to restructure its $7.1 billion of debt and whether they would form an official committee or engage in bilateral talks, central bank governor Nandalal Weerasinghe told Reuters in an interview on Tuesday.
The island nation aimed to formally engage in debt negotiations with overseas creditors that include China, India and the Paris Club group of nations in May, after concluding a debt rework with holders of its domestic debt, the governor said.
Sri Lankan shares end higher as financials, industrials rise
Senkadagala Finance Plc and Browns Investments Plc were the top gainers on the index, rising 17% and 3.3% respectively, according to Refinitiv data.
Trading volume for the CSE All-Share index fell to 40.8 million shares, from 84.3 million in the previous session.
The equity market’s turnover dropped to 947.5 million Sri Lankan rupees ($2.97 million), from 1.67 billion rupees in the previous session, according to exchange data.
Foreign investors were net sellers in the equity market, offloading stocks worth 56.8 million rupees of shares, while domestic investors purchased stocks worth 907.1 million rupees on a net basis, the data showed.
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