BENGALURU: Sri Lankan shares settled higher for the fifth straight session on Tuesday, supported by gains in financial and industrial stocks.
The CSE All-Share index ended 0.91% higher at 10,525.39.
The stock market was closed on Monday for a public holiday.
Sri Lanka approved the gradual lifting of some limits on converting rupees to foreign exchange for outward remittances, a cabinet spokesperson said on Tuesday, adding that the new directions will be presented to the parliament for approval.
The island nation is slowly recovering from its worst financial crisis in decades, having suffered from soaring inflation, low foreign reserves, and currency depreciation.
Sri Lankan shares end higher as financials, consumer staples gain
Conglomerates John Keells Holdings and LOLC Holdings were among the top boosts to the CSE All-Share index.
Trading volume on the CSE All-Share index fell to 42.3 million shares from 45.9 million shares in the previous session, according to exchange data.
The equity market’s turnover fell to 872.3 million Sri Lankan rupees ($2.78 million) from 1.39 billion rupees in the previous session.
Foreign investors were net sellers, offloading stocks worth 191.5 million rupees, while domestic investors were net buyers, purchasing shares worth 830 million rupees, the data showed.
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