Sri Lanka shares gain for first session in four after central bank’s recovery pledge

Consumer discretionary and financial stocks lifted Sri Lankan shares higher on Wednesday, after the island country said its economic growth in 2024 was fastest in seven years and promised focus on a stronger recovery in 2025.

The CSE All-Share index settled up 0.63% at 15,954.01, snapping a three-session losing streak.

Nation Lanka Finance and C M Holdings were the top two percentage gainers on the CSE All-Share, rising 33.33% and 16.13%, respectively.

Sri Lankan central bank’s chief said the country’s real gross domestic product (GDP) growth in 2024 was 5% - the highest in seven years, and forecast inflation reaching positive territory in mid-2025.

Sri Lanka shares end marginally lower as real estate, utilities drag

Trading volume on the CSE All-Share index fell to 154.8 million shares from 676.9 million in the previous session.

The equity market’s turnover rose to 5.23 billion Sri Lankan rupees ($17.68 million) from 4.56 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 355.2 million rupees, while domestic investors were net buyers, purchasing shares worth 5.11 billion rupees, the data showed.