Shares rise nearly 4% as financials, industrials boost

Saturday, 16 January 2021 00:51 -     - {{hitsCtrl.values.hits}}

Reuters: Financial and industrial stocks boosted Sri Lankan shares nearly 4% higher yesterday, a day after the stock market was closed for a holiday.

The benchmark stock index ended up 3.91% at 7,734.57, its best session since February 2012. The index rose 8.6% for the week, its 11th straight weekly gain.

Trading volume on the CSE All Share Index rose to 433.45 million from 401.10 million in the previous session.

Holding company Lanka ORIX Leasing Company PLC and conglomerate Expolanka Holdings PLC were the top boosts to the index, gaining 24.9% and 13.6%, respectively.

Foreign investors were net sellers, offloading Rs. 300.2 million ($ 1.56 million) worth of shares, according to exchange data.

The rupee was last quoted at 192.5 against the dollar as of 12:24 GMT, 0.52% weaker for the day, compared to last session’s close of 191.5, according to Refinitiv data.

Equity market turnover was Rs. 12.46 billion, exchange data showed.

Separately, November trade deficit narrowed year-over-year to $ 565 million, data from the Central Bank showed.