Sri Lanka shares end higher as communication services, financials gain

Sri Lankan shares closed higher on Monday, aided by communication services and financial stocks.

The CSE All-Share index settled 1.30% higher at 17,156.05.

Sri Lanka aims to transform its crisis-hit economy to prepare to resume debt repayments from 2028, President Anura Kumara Dissanayake said on Monday as he unveiled a budget that is seen as a key step towards durable, long-term growth.

He said he expected the economy to grow 5% this year and at about the same rate in the medium term. The government aimed to keep inflation low and exchange rates stable, he said.

UB Finance Company and Chemanex Plc were the top gainers on the index, up 14.3% and 11.3%, respectively.

Sri Lanka shares end higher; central bank sees inflation peak above target in Q2 next year

Trading volume on the index fell to 133 million shares from 139 million shares in the previous session.

The equity market’s turnover rose to 5.41 billion Sri Lankan rupees ($18.31 million) from 4.89 billion rupees in the previous session, according to exchange data.

Foreign investors were net buyers, purchasing stocks worth 1.19 billion rupees, while domestic investors were net sellers, offloading shares worth 4.99 billion rupees, the data showed.