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Sri Lankan stocks hit nearly three-week low as industrial stocks collapse




September 13 (Reuters) – Sri Lankan stocks hit a nearly three-week low on Monday, ending down around 4%, as industrial stocks fell.

* The CSE All-Share Index was down 3.70% to 8,536.88 points at the closing bell, recording its worst day since February.

* The benchmark fell as conglomerates Expolanka Holdings Plc and LOLC Holdings fell 15.1% and 7.2% respectively.

* On Friday evening, the governor of the Central Bank of Sri Lanka announced that he would step down, at a time when the weak foreign exchange reserves of South Asian countries limited their ability to import goods and increased the risk of default of payment.

* Sri Lanka’s July trade deficit widened to $ 607 million from a year-ago deficit of $ 209 million, according to cenbank data here.

* The Colombo Stock Exchange halted trading during the day for about 15 minutes due to connection stability issues.

* Stock market turnover was 6.76 billion Sri Lankan rupees ($ 33.97 million), according to stock market data here.

* Exchange trading volume fell to 228.2 million shares from 248.6 million shares in the previous session.

* Foreign investors were net sellers in the stock market, ditching stocks worth Rs 735.8 million, according to stock exchange data.

* The island nation has reported 2,642 new cases of coronavirus in the past 24 hours, bringing the total to 485,922.

* It has reported 144 deaths from COVID-19 in the past 24 hours, bringing the death toll to 11,296, according to data from the health bureau here.

* About 48.36% of the nation’s population is so far fully vaccinated, according to data from Johns Hopkins University

* For a report on global markets, click

* For a report on major currencies, click ($ 1 = 199,000 Sri Lankan rupees) (Report by Shivani Singh in Bengaluru; edited by Vinay Dwivedi)




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