Shares climb to record close on financial, consumer boost

REUTERS: Sri Lankan shares hit fresh record highs at close yesterday, helped by gains in financial and consumer stocks.

The CSE All-Share index rose 1.56 percent to end at 10,686.37 points, its highest closing level ever. Commercial Leasing and Finance Plc and LOLC Finance rose 4.8 percent and 23.9 percent respectively, the biggest boosters to the index.

The country’s Central Bank said in a report yesterday headline inflation could remain above its target levels in the near term.

The report added that the Central Bank expected gross official reserves to be enhanced to adequate levels despite near term volatilities.

The equity market’s turnover was Rs.6.88 billion, according to stock exchange data.

Trading volume on the exchange fell to 347.5 million shares, from the 364.0 million shares in the previous session. 

Foreign investors were net sellers in the equity market, selling shares worth about Rs.85.1 million, as per exchange data.

In the last 24 hours, the island-nation has reported 693 COVID-19 cases, taking the total to 547,346 with the death toll at 13,908, data from the country’s health bureau showed. About 62.36 percent of the country’s population is fully vaccinated so far, according to data from Johns Hopkins University.