Sri Lankan shares log ninth straight session of gains

Sri Lankan shares closed higher for the ninth successive session on Friday, led by materials and communication services stocks.

The CSE All-Share index settled 0.36% higher at 21,598.99.

The index closed at a record high for the sixth straight session, and logged its highest weekly gain since the weeek ended July 25.

SMB Finance and Industrial Asphalts (Ceylon) were the top percentage gainers on the index, gaining 33.3% and 25%, respectively.

Trading volume on the index fell to 148.1 million shares from 261.3 million shares in the previous session.

The equity market’s turnover fell to 6.02 billion Sri Lankan rupees ($19.9 million) from 9.30 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 215.1 million rupees, while domestic investors were net buyers, purchasing shares worth 5.96 billion rupees, the data showed.