Sri Lankan shares end higher on Wednesday, snapping a losing streak of eleven straight sessions, helped by financial and industrial stocks.
The CSE All Share index settled 1.02% higher at 8,799.91 on Wednesday.
Sri Lanka’s apparel export earnings could slump by $1 billion this year, a top industry expert said on Wednesday, as slowing global demand drags the crisis-hit South Asian country.
Apparel is Sri Lanka’s largest industrial export, in which it earned $5.95 billion in 2022, helping the country to weather its worst financial crisis since independence in 1948 that was triggered by a record reduction in foreign exchange reserves.
On the CSE All Share index, Expolanka Holdings Plc and LOLC Finance Plc were the top gainers on the index, rising 3.5% and ~3.9%, respectively.
Sri Lankan shares extend losses to eleventh day as financials, industrials weigh
Trading volume on the index fell to 29.9 million shares from 52.4 million in the previous session.
The equity market’s turnover fell to 611.7 million Sri Lankan rupees ($1.92 million) from 983.9 million rupees in the previous session, according to exchange data.
Foreign investors were net sellers, offloading stocks worth 99.6 million rupees, while domestic investors were net buyers, purchasing shares worth 585.9 million rupees, the data showed.
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