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Sri Lankan Shares Hit 7-Month High as Financials Jump

Sri Lankan shares ended higher on Thursday, hitting a seven-month peak earlier in the session, driven by gains in financial and consumer stocks.

** The CSE All Share Index closed up 0.68% at 5,811.20, after hitting their highest level since Feb. 24 earlier in the session.

** The benchmark index has ended higher for 12 of the last 13 sessions and has climbed 9% so far in September, although it is still down 5.2% this year.

** Ceylinco Insurance Plc and investment firm Bukit Darah Plc were the top two boosts to the index on Thursday, with the latter hitting its highest level since March 2018.

** Shares in HNB Finance Ltd and conglomerate John Keells Holdings Plc fell 13% and 1%, respectively, and were the biggest drags on the index.

** Trading volume on the CSE All Share Index more than doubled to 403.7 million from 158.3 million a day earlier.

** Foreign investors were net sellers in the equity market, offloading 772.2 million Sri Lankan rupees ($4.2 million) worth of shares, according to exchange data.

** The Sri Lankan rupee was last quoted at 185.10 against the dollar as of 1130 GMT, 0.16% weaker for the day compared to the previous session’s close of 185.00, according to Refinitiv data.

** Equity market turnover was 2.85 billion Sri Lankan rupees, data showed.

($1 = 185.1000 Sri Lankan rupees)

(Reporting by Sachin Ravikumar; Editing by Ramakrishnan M.)

Source: Reuters


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