Sri Lankan shares snap 4-session winning streak as financials drag

  • 12/15/2021
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Sri Lankan shares closed lower on Wednesday, snapping a four-session winning run, dragged down by financials stocks, while data after market closed showed the country"s economy contracted due to the pandemic. * The CSE All-Share index (.CSE) settled 0.36% lower at 11,754.46, after hitting an all-time high of 11,871.72 earlier in the day. * Lanka ORIX Leasing Company Plc (LOLC.CM) and Commercial Leasing and Finance Plc (COLE.CM) were the top drags to the index, falling 2.9% and 3.3%, respectively. * Sri Lanka"s economy contracted by 1.5% in the third quarter from a year earlier, due to a third wave of COVID-19 infections that peaked in August hitting industries and services, the government data office said on Wednesday. * The equity market"s turnover was 7.44 billion rupees ($42.03 million), according to stock exchange data. * Trading volume fell to 302.5 million shares from 533.7 million shares in the previous session. * Foreign investors were net sellers in the equity market, offloading shares worth 127.2 million rupees, as per exchange data. * The island-nation reported 762 new coronavirus cases in the last 24 hours, taking the total to 576,194, and deaths rose by 20 to 14,661, data from the country"s health bureau showed. * About 63.26% of the country"s population has been fully vaccinated, according to data from Johns Hopkins University. * For a report on global markets, click ($1 = 202.0000 Sri Lankan rupees) Reporting by Rama Venkat in Bengaluru; Editing by Vinay Dwivedi Our Standards: The Thomson Reuters Trust Principles.

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