Financials, industrials drive Sri Lankan shares higher

June 4 (Reuters) – Sri Lankan shares closed at their highest in over 1-1/2 months on Friday, boosted by gains in financial and industrial stocks.

* The CSE All-Share Index ended up 0.68% at 7,567.38, posting gains in seven of the last eight sessions. The index rose 3.19% this week.

* Conglomerates LOLC Holdings and Expolanka Holdings Plc were the top boosts to the index, rising 5% and 2.6%, respectively.

* Sri Lanka reported 3,297 confirmed coronavirus cases on Friday, taking the total to 195,844, while deaths rose by 42 to 1,608, according to health ministry data here.

* On Thursday, Britain added seven countries, including Sri Lanka, to its “red list” of destinations that require hotel quarantine on return to England.

* The island-nation has also been facing its worst-ever environmental disaster after a cargo ship laden with chemicals sank off its western coast, though the ship’s operators on Friday said there was no sign of an oil spill. The accident has resulted in a ban on fishing, leaving fishermen helpless.

* Trading volume rose to 96.3 million from 82.1 million in the previous session.

* Foreign investors were net sellers in the equity market, offloading shares worth 329.7 million rupees ($1.67 million), according to exchange data.

* The Sri Lankan rupee was last quoted at 197 against the U.S. dollar as of 1217 GMT, unchanged from Thursday’s close, according to Refinitiv data.

* Equity market turnover was 3.16 billion rupees, exchange data showed.

* For a report on global markets, click

* For a report on major currencies, click

Source: Read Full Article