Sri Lanka shares close flat after central bank holds rate

Sri Lankan shares held steady on Wednesday, on the day its central bank retained rate as expected, as gains in utilities and materials stocks countered declines in energy and IT shares.

The CSE All-Share index settled largely unchanged at 17,117.18, compared with Tuesday’s close of 17,119.86.

Nation Lanka Finance was the top percentage gainer on the index, rising 33.33%, while Ceylinco Holdings bottomed the benchmark with a near 8% decline.

Earlier in the day, Sri Lanka’s central bank held key policy rate steady to underpin a stronger economic recovery, as the country gradually pulls ahead from its worst financial crisis in decades.

Trading volume on the CSE All-Share index rose to 386.7 million shares from 273.4 million in the previous session.

Sri Lanka shares rise as IT, financials gain

The equity market’s turnover rose to 8.41 billion Sri Lankan rupees ($28.4 million) from 6.35 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 1.10 billion rupees, while domestic investors were net buyers, purchasing shares worth 8.23 billion rupees, the data showed.