Sri Lankan markets end higher as industrial, telecom stocks shine – Reuters

Sri Lankan markets end higher as industrial, telecom stocks shine – Reuters

May 27 (Reuters) – Sri Lankan shares closed higher on Wednesday as industrial and communication services sectors helped boost the benchmark index by accounting for about half of its gains in the session.

** The CSE All Share Index closed up 0.41% at 4,800.01.

** Industrial conglomerate John Keells Holdings Plc , which rose 3.7%, and mobile service operator Dialog Axiata PLC, up 3.03%, were among the biggest boosts on the index.

** Trading volume on the benchmark index was 35.3 million, compared with 52.4 million in the previous session.

** Foreign investors were net buyers, snapping up 300.7 million Sri Lankan rupees ($1.61 million) worth of shares, according to exchange data.

** The Sri Lankan rupee was last quoted at 186.2 against the U.S. dollar as of 1219 GMT, 0.1% weaker compared with last session’s close of 186, according to Refinitiv data.

** Economists have warned that Sri Lanka may have to make a fresh appeal to the IMF or default on its debt, unless it can secure aid from allies like China.

** Equity market turnover was 1.37 billion Sri Lankan rupees, data showed.

** For a report on global markets, click

** For a report on major currencies, click ($1 = 186.2000 Sri Lankan rupees) (Reporting by Derek Francis; Editing by Krishna Chandra Eluri)

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