BENGALURU: Sri Lankan shares closed higher on Wednesday, after creditor nations agreed in principle on debt restructuring.

The CSE All Share index settled up 0.58% at 10,513.28, in its strongest session since Nov. 8.

A group of Sri Lanka’s creditor nations reached an agreement in principle on debt restructuring for the South Asian nation, Japanese top financial diplomat Masato Kanda said on Wednesday.

Japan co-chairs this group, together with France and India, which comprises 14 nations. China, which is Sri Lanka’s largest bilateral creditor, has not joined this group as a formal member.

Sri Lanka shares end lower weighed by material, consumer discretionary stocks

Ceylon Tobacco Company Plc and Browns Investments Plc were the top gainers on the CSE All Share, up 2.49% and 2.04%, respectively.

Trading volume on the CSE All Share index rose to 36.4 million shares from 19.5 million shares in the previous session.

The equity market’s turnover rose to 735.6 million Sri Lankan rupees ($2.24 million) from 724.5 million rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 56.1 million rupees, while domestic investors were net buyers, purchasing shares worth 696.4 million rupees, the data showed.