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Sri Lankan stocks end 4-day losing streak following financial stimulus

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September 9 (Reuters) – Sri Lankan stocks rallied on Thursday after a four-day losing streak, helped by strong gains in the financial sector.

* The CSE All-Share Index, which was up 2.54% to 8,986.40 points at the closing bell, is still down over 3.5% for the week.

* The benchmark index had fallen 8.22% from its all-time high during the previous trading session.

* Financial firm Browns Investments Plc and micro lender LOLC Development Finance Plc were the main growth drivers, up 8.7% and 10.6%, respectively.

* Stock market turnover was 5.79 billion rupees, according to stock market data here.

* Exchange trading volume fell to 265.3 million shares from 489.7 million shares in the previous session.

* Foreign investors were net buyers in the stock market, buying stocks worth Rs 410.7 million, according to stock exchange data.

* The Central Bank of Sri Lanka here Wednesday evening, asked the country’s licensed banks to further extend concessions for borrowers until December 31 as the country grapples with a devastating increase in coronavirus cases

* The island nation has reported 2,917 new cases of coronavirus in the past 24 hours, bringing the total to 474,780, even though the country remains under lockdown.

* Sri Lankan medical experts have called for a one-year postponement of pregnancies due to COVID-19. About 5,500 pregnant women have been infected with the coronavirus.

* Sri Lanka has reported 185 deaths from COVID-19 in the past 24 hours, bringing the death toll to 10,689, according to health office data here.

* For a report on global markets, click

* For a report on major currencies click on (Report by Shivani Singh in Bengaluru and Waruna Karunatilake in Colombo, edited by Krishna Chandra Eluri)

Sources

1/ https://Google.com/

2/ https://www.reuters.com/article/sri-lanka-markets-close-idUSL4N2QB2TK

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