Shares end flat as consumer stocks counter energy losses

REUTERS: Sri Lankan shares closed little changed yesterday, after logging two straight sessions of losses, as gains in consumer discretionary and staples offset a drop in energy stocks.

The CSE All-Share index (.CSE) was up 0.06 percent at 11,915.18 points at the closing bell. For the year, the index has risen nearly 76 percent.  Financial services provider Senkadagala Finance PLC (SFCL.CM) fell 22.6 percent and was the top drag on the index. Conglomerate Hayleys PLC (HAYL.CM) and non-banking financial company SMB Leasing PLC (SEMB.CM) rose 3.4 percent and 20 percent, respectively and were top boosts to the index.
Central Bank Governor Ajith Nivard Cabraal said in a tweet yesterday that the country’s official foreign exchange reserves have risen to around US $ 3.1 billion and would remain at that level until year-end.

According to sources, Sri Lanka’s reserves have been topped up after a US $ 1.5 billion currency swap with the People’s Bank of China was finalised. 

The equity market’s turnover was Rs.5.85 billion (US $ 28.89 million) yesterday, according to stock exchange data.
Trading volume jumped to 809.4 million shares, from 317.4 million shares in the 
previous session.

Foreign investors were net sellers in the equity market, offloading shares worth Rs.511.1 million, as per exchange data.  The island-nation has reported 584,586 coronavirus cases and 14,923 deaths, as of yesterday, data from the country’s health bureau showed. About 63.45 percent of Sri Lanka’s population has been fully vaccinated, according to data from Johns Hopkins University.