Broad gains lift Sri Lankan shares

Sri Lankan shares closed higher, as broad-based gains led by real estate and industrial stocks overpowered IT losses.

The CSE All Share index settled up 0.9% at 17,657.6. * Six of the eight sub-sectors ended higher on Wednesday.

SMB Finance PLC and Industrial Asphalts (Ceylon) PLC were the top percentage gainers on the CSE All Share index, rising 50% and 33.3%, respectively.

Trading volume on the CSE All Share index rose to 283 million shares from 121.8 million in the previous session.

According to exchange data, the equity market’s turnover rose to 5.68 billion Sri Lankan rupees ($19.00 million) from 2.85 billion rupees in the previous session.

Foreign investors were net sellers, offloading stocks worth 313 million rupees, while domestic investors were net buyers, purchasing shares worth 5.47 billion rupees, the data showed.