Sri Lanka shares end higher as financials, consumer staples rise

Sri Lankan shares closed higher on Tuesday, helped by financial and consumer staple stocks.

The CSE All-Share index settled 0.22% higher at 10,874.39, gaining for a fifth straight session.

Sri Lanka extended restrictions on outward remittances by six months to manage foreign exchange reserves, cabinet spokesperson and transport minister Bandula Gunawardane told reporters at a weekly cabinet briefing on Tuesday.

Melstacorp Plc and Sri Lanka Telecom Plc were the top gainers on the index, climbing 5.8% and 2.1%, respectively.

Sri Lanka shares end higher, boosted by industrials, consumer staples

Trading volume on the index rose to 32.1 million shares from 23.2 million shares in the previous session.

The equity market’s turnover rose to 1.03 billion Sri Lankan rupees ($3.15 million) from 776.4 million rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 97.3 million rupees, while domestic investors were net buyers, purchasing shares worth 946.6 million rupees, the data showed.