Sri Lankan shares rise as communication services gain

Sri Lankan shares closed higher on Wednesday, as gains in communication services overpowered losses in utilities stocks.

The CSE All Share index settled up 0.16% at 23,919.84.

Softlogic Capital PLC and C. W. Mackie PLC were the top percentage gainers on the CSE All Share index, surging 18.1% and 12.6%, respectively.

Mercantile Shipping Company PLC and Kerner Haus Global Solutions PLC were the top percentage losers, down 14.8% and 14.5%, respectively.

Trading volume on the CSE All Share index rose to 289.2 million shares from 160.8 million in the previous session.

The equity market’s turnover rose to 5.66 billion rupees ($18.3 million) from 4.23 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 292.2 million rupees, while domestic investors were net buyers, purchasing shares worth 5.55 billion rupees, the data showed.