Sri Lankan shares close higher, but post weekly losses

Sri Lankan shares closed higher on Friday, but recorded their fourth straight weekly decline.

The CSE All-Share index settled 1.85% higher at 20,639.73 points.

An International Monetary Fund staff mission will visit Sri Lanka from March 26 to April 9 to discuss the combined fifth and sixth reviews of the country’s reform program under its extended fund facility.

Trading volume on the index rose to 215.2 million shares from 176.5 million shares in the previous session.

The equity market’s turnover rose to 4.39 billion Sri Lankan rupees ($14.08 million) from 3.95 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 892.9 million rupees, while domestic investors were net buyers, purchasing shares worth 4.28 billion rupees, the data showed.