Shares end at 10-month high on industrials, financials boost

Reuters: On Friday, shares rose for a fourth straight session to end at their highest level since early January; helped by gains in industrial and financial stocks.

The benchmark stock index ended up 1.27% at 6,080.09, its highest closing mark since 3 January. 

The index added 6.2% for the week, marking its biggest weekly gain since May.

Shares in Conglomerate Hayleys PLC and Royal Ceramics Lanka gained 16% and 25%, respectively, to be the top boosts to the index. Industrial Asphalts (Ceylon) jumped 50% to be the top percentage gainer, while Commercial Bank of Ceylon advanced 1.3%. CT Holdings shed 3.1%, making the company with interests in real estate and retail, the top drag on the index.

Trading volume on the CSE All Share Index slipped to 215.7 million from 217.7 million in the previous session.

Foreign investors were net sellers in the equity market, offloading Rs. 245.3 million ($ 1.33 million) worth of shares, according to exchange data. Equity market turnover was about Rs. 5 billion exchange data showed. The Sri Lankan rupee was last quoted at Rs. 184.45 against the US dollar.