Sri Lankan shares closed higher on Tuesday after posting losses for two straight sessions, as financials and consumer staples stocks gain

The CSE All-Share index rose 0.63% to 9,550.70.

Sri Lanka has approved an anti-corruption legislation that is a key clause in the actions needed for its $2.9 billion bailout from the International Monetary Fund (IMF), a government spokesperson said on Tuesday.

Senkadagala Finance Plc and Ceylon Beverage Holdings Plc were the biggest boosts to the index, surging 19.8% and 22.2%, respectively, according to Refinitiv data.

The trading volume for the CSE All Share index fell to 52 million shares from 238.8 million in the previous session.

Sri Lankan shares extend losses as consumer staples, industrials weigh

The equity market’s turnover fell to 1.46 billion Sri Lankan rupees ($4.33 million) from 2.09 billion rupees in the previous session, according to exchange data.

Foreign investors were net buyers in the equity market, purchasing stocks worth 182 million rupees, while domestic investors were net sellers, offloading 1.42 billion rupees worth of shares, the data showed.