Stocks rise as industrial, consumer stocks boost

Saturday, 23 May 2020 00:02 -     - {{hitsCtrl.values.hits}}

Reuters: Shares rose on Friday, lifted by gains in industrial and consumer stocks. The benchmark stock index closed up 0.32% at 4,799.89. Stocks gained 8.1% this week, but the index is still down 21.7% for the year.

Lion Brewery rose 10.8% and was the biggest boost to the index, while Commercial Bank of Ceylon, down 3.1%, was the biggest drag.

Trading volume on the CSE All Share Index surged 82.7% to 94.71 million from the previous session.

Foreign investors were net sellers in the equity market, offloading Rs. 898.3 million ($4.84 million) worth of shares, according to exchange data.

The rupee was last quoted at 185.5 against the dollar as of 1206 GMT, 0.54% higher for the day compared to last session’s close of 186.5, according to Refinitiv data.

Equity market turnover was Rs. 2 billion, data showed.