Financial company advances help Sri Lankan equities end higher
Business
Central Bank of Sri Lanka anticipated to keep inflation under control while awaiting IMF bailout
COLOMBO (Reuters) - Financial company advances helped Sri Lankan equities end higher for a second consecutive session as investors awaited the central bank's Friday policy rate announcement.
On Thursday, the CSE All Share index finished 1.21% higher at 9,333.83.
In order to keep inflation under control while awaiting a bailout from the International Monetary Fund (IMF) it is widely anticipated that the Central Bank of Sri Lanka would maintain interest rates at their current levels for a fourth consecutive meeting.
According to Refinitiv statistics, the index had the highest boosts from LOLC Holdings and Hatton National Bank which saw increases of 2.3 percent and 7.8 percent respectively. The CSE All Share index saw an increase in trading volume from the previous session's 43 million shares to 78.4 million shares.
According to exchange statistics the equities market's turnover increased from 1.27 billion Sri Lankan rupees in the previous session to 1.45 billion rupees ($4.19 million). According to statistics, local investors were net sellers of equities worth 1.37 billion rupees, while foreign investors were net purchasers in the equity market, buying shares worth 133.4 million rupees.
