Communication services stocks lift Sri Lankan shares

Sri Lankan shares advanced on Tuesday, boosted by a rise in communication services stocks, while gains in industrials and consumer discretionary sectors also helped.

The CSE All-Share index settled 0.34% higher at 23,582.16 points.

Richard Pieris and Swadeshi Industrial Works were the top percentage gainers on the benchmark index, rising about 25% each.

Trading volume on the CSE All-Share climbed to 223.1 million shares from 253 million shares in the previous session.

The equity market’s turnover rose to 8.22 billion Sri Lankan rupees ($27.15 million) from 7.52 billion rupees in the previous session, according to exchange data.

Foreign investors were net buyers, purchasing stocks worth 150.6 million rupees, while domestic investors were net sellers, offloading shares worth 8.1 billion rupees, the data showed.