Tuesday, 11 Aug 2020

Sri Lankan shares jump on boost from financial, consumer stocks

July 31 (Reuters) – Sri Lankan shares snapped a three-session losing streak on Friday, led by gains in financial and consumer staples stocks.

** The benchmark CSE All Share Index closed 0.71% higher at 5,124.26.

** The index, down 16.4% since the start of 2020, fell a modest 0.5% in July.

** Shares of Ceylon Tobacco Co Plc and telecom firm Dialog Axiata Plc climbed 1.9% and 3.7%, respectively, and were the top boosts on the index.

** Commercial Leasing & Finance Plc and Property Development Plc were the biggest drags on the index, shedding about 3.1% each.

** Sri Lanka’s headline inflation increased to 4.2% year-over-year in July, from 3.9% in June, driven by higher prices of items in the non-food category, the country’s central bank said here

** Foreign investors were net buyers, purchasing 366.4 million Sri Lankan rupees ($2 million) worth of shares, according to exchange data.

** Trading volume on the CSE All Share Index climbed to 82.1 million shares, from 34.1 million a day earlier.

** Equity market turnover was 1.4 billion Sri Lankan rupees.

** The Sri Lankan rupee was last quoted at 185.55 against the dollar as of 1330 GMT, according to Refinitiv data.

** For a report on global markets, click

** For a report on major currencies, click ($1 = 185.5500 Sri Lankan rupees) (Reporting by Sachin Ravikumar in Bengaluru; Editing by Aditya Soni)

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