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Leading News from Sri Lanka::

* Sri Lankan shares end lower as industrials weigh
Fri, May 26, 2023, 07:22 pm SL Time, ColomboPage News Desk, Sri Lanka.

May 26 (Reuters) - Sri Lankan shares closed lower on Friday, dragged by losses in industrial stocks. The CSE All Share index settled down 0.18% at 8,697.07, falling for two straight sessions.

The island nation is confident of meeting its September deadline on completing debt restructuring talks with creditors, a top official said on Friday, as the debt-laden country works to emerge from its worst financial crisis in decades.

Sri Lanka, which defaulted on its foreign debt for the first time in history last April due to record low foreign reserves, is in talks with bondholders and bilateral creditors including China, Japan and India to put its debt on a sustainable track and turnaround its battered economy.

Holding company John Keells Holdings PLC and Conglomerate Expolanka Holdings PLC were the top losers on the CSE All Share, falling 1.62% and 0.89%, respectively.

Trading volume on the CSE All Share index rose to 25.9 million shares from 22.9 million shares in the previous session.

The equity market’s turnover fell to 729.7 million Sri Lankan rupees ($2.45 million) from 893.5 million rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 246.5 million rupees, while domestic investors were net buyers, purchasing shares worth 709.3 million rupees, the data showed.

Read More:: Reuters (Source)