Shares extend losing streak, financials and industrials weigh

REUTERS: Sri Lankan shares slumped for a third straight session yesterday, dragged by heavy losses in the financial and industrial companies.

The CSE All-Share index was down 3.61 percent at 8,764.21 points at the closing bell - witnessing its worst day since February 16.

The benchmark index which had touched an all-time high on Friday, hit lowest levels in over three weeks during the trading session.

While all major sectors ended in negative territory, conglomerates Expolanka Holdings PLC and Lanka Orix Leasing Company PLC were the top drags, falling 11.5 percent and 46.5 percent, respectively.

The equity market’s turnover was Rs.10.44 billion, according to stock exchange data.

Trading volume on the exchange dipped to 489.7 million shares, from 504.8 million shares in the previous session.
Foreign investors were net sellers in the equity market, offloading shares worth Rs.314.1 million, exchange data showed.

The island nation reported 2,964 new coronavirus cases in the last 24 hours, taking the total to 471,863, even as the country remains under a lockdown.

Sri Lanka reported 184 fatalities due to COVID-19 in the last 24 hours, bringing the death toll to 10,504, health bureau data showed.

As per data from Johns Hopkins University, the country has fully vaccinated about 43.18 percent of its entire population so far.