Communication services, consumer staples boost market

Sri Lankan shares closed higher, helped by gains in communication services and consumer staples stocks.

The CSE All-Share index settled 0.54% higher at 22,928.31.

Senkadagala Finance PLC and SMB Finance PLC were the top percentage gainers on the index, gaining 25% and 22.2% respectively.

Trading volume on the CSE All-Share index rose to 158.1 million shares from 154.8 million in the previous session.

The equity market’s turnover rose to 5.73 billion Sri Lankan rupees ($18.93 million) from 5.60 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 1.13 billion rupees, while domestic investors were net buyers, purchasing shares worth 5.25 billion rupees, the data showed.