Sri Lanka shares drift higher as IT stocks buoy

Sri Lankan shares closed higher on Wednesday, aided by gains in information technology stocks.

The CSE All Share index settled up 0.78% to 20,773.69.

Industrial Asphalts and Colombo City Holdings were the top two percentage gainers on the benchmark, advancing 25% each.

Trading volume on the CSE All Share index jumped to 330.7 million shares from 162.3 million shares in the previous session.

IT stocks drag Sri Lankan shares lower

The equity market’s turnover rose to 7.39 billion Sri Lankan rupees ($24.5 million) from 5.15 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 466.7 million rupees, while domestic investors were net buyers, purchasing shares worth 6.98 billion rupees, the data showed.