Sri Lankan shares end lower as coronavirus cases spike

  • 5/10/2021
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May 10 (Reuters) - Sri Lankan shares closed lower on Monday, weighed by financial, industrial and consumer staple stocks, as a jump in domestic COVID-19 cases dented investor sentiment. * The CSE All-Share Index fell 1.47% to end at 7,135.80. The index has climbed 5.34% this year. * Sri Lanka is now reporting more than 1,900 new infections each day. The South Asian island nation last month had imposed fresh curbs on public gatherings. * Sri Lanka for the first time recorded more than 2,000 COVID-19 cases in a single day on Sunday. The total daily cases reported reached 2,659, according to the health ministry. ** The country on Saturday approved Pfizer’s COVID-19 vaccine for emergency use, as the island nation battles a third wave of the virus, while suffering a restricted supply of vaccines from India. * Browns Investments Plc and Lanka ORIX Leasing Company Plc, were among the top drags to the index, falling 4.41% and 3.12%, respectively. * Trading volumes rose to more than 153.3 million from 124.8 million in the previous session. * Foreign investors were net sellers in the equity market, offloading shares worth 877.3 million Sri Lankan rupees ($4.48 million), according to exchange data. * Equity market turnover was 2.47 billion rupees, exchange data showed. * The Sri Lankan rupee was last quoted at 196 against the U.S. dollar, as of 1151 GMT, according to Refinitiv data. * For a report on global markets, click * For a report on major currencies, click ($1 = 196.0000 Sri Lankan rupees) (Reporting by Rama Venkat in Bengaluru and Waruna Karunatilake in Colombo; Editing by Amy Caren Daniel) Our Standards: The Thomson Reuters Trust Principles.

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