Shares end higher for fourth day as financials rally

REUTERS: Sri Lankan shares closed higher for a fourth straight session yesterday, helped by gains in financial stocks and consumer staples.

The CSE All-Share index settled up 0.33 percent at 7,939.35.

Browns Investments PLC and Lanka ORIX Leasing Company PLC were the top boosts to the index, ending up 3.3 percent and 1.2 percent, respectively.

Sri Lanka’s trade deficit widened for the third consecutive month in May to US $ 716 million, the Central Bank data showed yesterday. Domestic coronavirus cases continued to rise, with total confirmed infections in the country increasing to 277,519, while the death toll was at 3,574 as of yesterday, according to the Health Ministry data. The island nation has fully vaccinated about 6.90 percent of its population so far, according to data  from Johns Hopkins.

Sri Lanka is set to receive 1.5 million doses of Moderna Inc’s shot on Friday under the COVAX vaccine-sharing programme, State Minister Channa Jayasumana said on Tuesday.

Trading volume on the exchange rose to 126.6 million shares, from 122.8 million shares in the previous session.
Foreign investors were net sellers in the equity market, offloading shares worth Rs.623.1 million (US $ 3.14 million), exchange data showed. The Sri Lankan rupee was last quoted at 198.5 against the U.S. dollar as of 1128 GMT, according to Refinitiv data. The equity market’s turnover was 2.05 billion rupees, according to exchange data.