Sri Lankan shares rose for a fourth straight session on Wednesday, lifted by gains in financial stocks.
The CSE All-Share index rose 3.30% to 8,651.23, marking its best day since Aug. 12. On Tuesday, the index notched a 0.79% gain, closing at an over two-week high.
CSE All-Share index rose 0.57% in November, having fallen 13.38% the previous month.
Meanwhile, Sri Lanka’s key inflation rate, the Colombo Consumer Price index (CCPI) eased to 61% in November from 66% in October, the country’s statistics department said after markets closed on Wednesday.
The country’s state finance minister, Shehan Semasinghe, said in an interview at the Reuters NEXT conference on Wednesday that he expects inflation to hover around 30% to 32% in 2023, adding that the island nation is targeting a return to pre-crisis growth levels by 2026
LOLC Finance Plc and LOLC Holdings Plc were the biggest boosts to the CSE All-Share index, rising 20% and 9%, respectively.
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Trading volumes rose to 281.4 million shares from 100.3 million in the previous session.
The equity market’s turnover rose to 3.35 billion Sri Lankan rupees ($9.20 million), compared with 2.88 billion rupees in the previous session, according to exchange data.
Foreign investors were net buyers in the equity market, purchasing stocks worth 361.9 million rupees, while domestic investors were net sellers, selling shares worth 3.03 billion rupees, data showed.
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