Sri Lankan shares rose on Friday, lifted by sharp gains in telecom and industrial stocks, but marked their first weekly decline since early July.
The CSE All-Share index closed 0.73% higher at 8,975.75. It declined 0.6% for the week, ending five straight weeks of gains after losing steam on Tuesday following a 12-day rally.
The index has gained 16% so far this month, but has lost 26.6% for the year.
Sri Lanka’s president said on Thursday the country will ask Japan to invite the crisis-struck nation’s main creditor nations, including China and India, to talks on bilateral debt restructuring.
Earlier on Thursday, the country’s central bank held rates steady and said foreign exchange reserves were on the mend and runaway inflation could peak as early as September.
Heavyweight conglomerate Expolanka Holdings jumped 5.7% while Sri Lanka Telecom soared 25% for a second straight session.
Sri Lankan shares end flat after central bank leaves rates unchanged
Trading volume rose to 145.4 million shares from 115.7 million shares in the previous session.
The equity market turnover was 3.16 billion Sri Lankan rupees ($8.90 million), according to exchange data.
Foreign investors were net buyers in the equity market, purchasing 89.5 million rupees worth of shares, while domestic investors were net sellers, offloading 3.11 billion rupees worth of shares, data showed.
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