Shares rise for fifth consecutive week

Sri Lankan shares closed higher on Friday, marking their fifth straight week of gains, led by IT and utilities stocks.

The CSE All Share index settled up 0.97% at 22,610.75, closing the week 1.3% higher.

Harischandra Mills PLC and Asia Capital PLC were the top percentage gainers on the CSE All-Share index, rising by 50% and 24%, respectively.

Trading volume on the CSE All Share index fell to 282.7 million shares from 293.8 million in the previous session.

The equity market’s turnover rose to 11.28 billion Sri Lankan rupees ($37.27 million) from 8.88 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 1.55 billion rupees, while domestic investors were net buyers, purchasing shares worth 11.12 billion rupees, the data showed.