Sri Lanka shares end higher as industrials, financials gain

Sri Lankan shares closed higher on Tuesday, aided by industrial and financial stocks.

The CSE All-Share index settled 1.16% higher at 11,992.91.

Sri Lanka will have detailed talks with the IMF on the framework of a $2.9 billion bailout programme on the sidelines of the lender’s annual meetings in Washington later this month, the country’s cabinet spokesperson said on Tuesday.

The delegation to the meetings in Washington will be led by the country’s central bank governor, treasury secretary and financial advisers to new president Anura Kumara Dissanayake, minister Vijitha Herath told reporters at a news conference.

Sri Lanka shares end higher as all sectors but energy gain

Tess Agro Plc and Office Equipment Plc were the top gainers on the index, up 20% each.

Trading volume on the index rose to 133.9 million shares from 126.5 million shares in the previous session.

The equity market’s turnover rose to 3.53 billion Sri Lankan rupees ($12 million) from 2.61 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 569.2 million rupees, while domestic investors were net buyers, purchasing shares worth 3.46 billion rupees, the data showed.