Economic news

Sri Lankan shares rise as financial, industrial stocks gain

April 15 (Reuters) - Sri Lankan shares rose for a ninth straight session on Thursday, as financial and industrial stocks gained.

* The CSE All-Share Index rose 1.4% to close at 7,664.38 points after a two-day holiday. The index, up over 13.1% for the year, is set for its longest winning streak this year.

* Conglomerate Lanka ORIX Leasing Company Plc and investment company Browns Investments Plc were the top boosts to the index, gaining 7.1% and 4.8%, respectively.

* Sri Lanka’s government bonds jumped to their highest level since September on Monday, on reports that the government had sealed a long-awaited $500 million loan deal with the China Development Bank.

* Trading volume increased to 197.3 million from 87.9 million in the previous session.

* Foreign investors were net sellers, offloading about 445.7 million rupees ($2.23 million) worth of shares, according to exchange data.

* Equity market turnover was 4.72 billion rupees, exchange data showed.

* The Sri Lankan rupee was quoted at 200 against the U.S. dollar, as of 1118 GMT but hit a record low earlier in the day as it touched the 203 mark, according to Refinitiv data.

($1 = 200.0000 Sri Lankan rupees)

(Reporting by Shivani Singh in Bengaluru; Editing by Vinay Dwivedi)

Source: Reuters

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