IT and materials lift Sri Lankan shares higher

Sri Lankan shares closed higher on Wednesday, led by sectors including information technology and materials.

The CSE All-Share index settled 0.46% higher at 16,007.44 points.

SMB Finance and Lankem Developments were the top percentage gainers on the index, up 50% and 44% respectively, on the day.

Trading volume on the index rose to 79.56 million shares from 63.09 million shares in the previous session.

IT and financials drag Sri Lankan shares lower

The equity market’s turnover rose to 2.29 billion Sri Lankan rupees from 1.91 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 392.82 million rupees, while domestic investors were net buyers, purchasing shares worth 2.18 billion rupees, the data showed.