Communications stocks lift Sri Lankan shares higher

Sri Lanka’s CSE All-Share ended Thursday at 22,157.40, gaining 0.56%, with communications shares providing the main support. Sri Lanka Telecom rose 8.1%, while Distilleries Company of Sri Lanka advanced 1.1%, according to figures reported by Business Recorder.

Activity weakened: volume declined to 87.1 million shares from 171.8 million in the prior session, while turnover fell to 2.98 billion Sri Lankan rupees, equivalent to $8.97 million, from 4.82 billion rupees. Foreign investors sold a net 179.3 million rupees of shares, whereas local investors bought a net 2.91 billion rupees, exchange data showed. The report describes trading in Sri Lanka and does not identify a direct development for a Pakistani listed company.