Sri Lankan shares log fifth straight weekly gains

Sri Lankan shares closed higher on Friday, aided by financials and consumer discretionary stocks, and logged a fifth straight week of gains.

The CSE All-Share index ended 0.88% higher at 15,535.60 on the day, logging its 23rd straight session of gains. The index advanced 4.9% this week.

Nation Lanka Finance and E M L Consultants were the top percentage gainers on the benchmark, rising 33.3% and 12.8%, respectively.

Trading volume on the index fell to 294 million shares from 534.5 million shares in the previous session.

Financials, communication services boost Sri Lankan shares

However, the turnover rose to 9.82 billion rupees (about $34 million) from 7.04 billion rupees in the previous session, according to exchange data.

Foreign investors were net buyers, purchasing stocks worth 207.4 million rupees, while domestic investors were net sellers, offloading shares worth 9.62 billion rupees, the data showed.