Shares end higher as financials, consumer stocks gain

REUTERS: Sri Lankan shares closed higher yesterday, helped by gains in financial and consumer staples.

The CSE All-Share Index rose 0.49 percent to 7,145.97. On Tuesday the index fell 1.4 percent, its worst one-day fall since April 27.

Sri Lanka reported 1,914 new COVID-19 cases on Tuesday, after seeing a record increase on Monday, while overall deaths have crossed 700 so far, according to a Johns Hopkins University tally.

The island nation’s government had last month imposed fresh restrictions on public gatherings to help contain the surge in infections.

Diversified holding company Expolanka Holdings PLC and cigarette maker Ceylon Tobacco Company PLC were the top boosts, gaining 1.6 percent and 2.9 percent, respectively.

Trading volumes fell to 74.2 million, from 195.5 million in the previous session.

Foreign investors were net sellers in the equity market, offloading shares worth Rs.127 million (US $ 647,959.18) according to exchange data.

Equity market turnover was Rs.890.3 million.