Sri Lankan markets end higher as industrial, telecom stocks shine

• The CSE All Share Index closed up 0.41pc at 4,800.01.
• Industrial conglomerate John Keells Holdings Plc , which rose 3.7pc, and mobile service operator Dialog Axiata PLC, up 3.03pc, were among the biggest boosts on the index.

Sri Lankan shares closed higher on Wednesday as industrial and communication services sectors helped boost the benchmark index by accounting for about half of its gains in the session.

The CSE All Share Index closed up 0.41pc at 4,800.01.

Industrial conglomerate John Keells Holdings Plc , which rose 3.7pc, and mobile service operator Dialog Axiata PLC, up 3.03pc, were among the biggest boosts on the index.

Trading volume on the benchmark index was 35.3 million, compared with 52.4 million in the previous session.

Foreign investors were net buyers, snapping up 300.7 million Sri Lankan rupees ($1.61 million) worth of shares, according to exchange data.

The Sri Lankan rupee was last quoted at 186.2 against the US dollar as of 1219 GMT, 0.1pc weaker compared with last session's close of 186, according to Refinitiv data.

Economists have warned that Sri Lanka may have to make a fresh appeal to the IMF or default on its debt, unless it can secure aid from allies like China.

Equity market turnover was 1.37 billion Sri Lankan rupees, data showed.