Communication services, IT lift Sri Lankan shares

Sri Lankan shares closed higher on Thursday, aided by gains in communication services and IT stocks.

The CSE All-Share index settled up 0.23% at 20,800.26, rising for the third straight session.

SMB Finance PLC and Raigam Wayamba Salterns PLC were the top percentage gainers on the CSE All-Share index, rising 33.3% and 25%, respectively.

Trading volume on the index fell to 295.4 million shares from 330.7 million in the previous session.

Sri Lanka shares drift higher as IT stocks buoy

The equity market’s turnover rose to 7.47 billion Sri Lankan rupees ($24.7 million) from 7.39 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 282.9 million rupees, while domestic investors were net buyers, purchasing shares worth 7.32 billion rupees, the data showed.