Sri Lankan shares end lower as financials, consumer staples weigh

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 27 (Reuters) - Sri Lankan shares closed lower on Monday, dragged by losses in financial and consumer staples stocks.


* The CSE All Share index fell 1.26% to 9,198.63.
* The International Finance Corporation (IFC), the World Bank's investment arm, said on Monday that it will provide Sri Lanka a $400 million cross-currency swap facility to help fund essential imports.
* Three private banks, which together deal with over 30% of Sri Lanka's remittances and exports, will receive the facility to fund essential imports, including medicine, food and fertiliser, the IFC said in a statement.
* Liquor maker Distilleries Company of Sri Lanka PLC and John Keells Holdings PLC were the biggest drags to the index, falling 4.9% and 1.8%, respectively, according to the Refinitiv data.
* Trading volume on the CSE All Share index fell to 56 million shares from 84.1 million in the previous session.
* The equity market's turnover fell to 1.21 billion Sri Lankan rupees ($3.35 million) from 2.12 billion rupees in the previous session, according to exchange data.
* Foreign investors were net sellers in the equity market, offloading shares worth 64.4 million rupees, while domestic investors were net buyers, purchasing stocks worth 1.14 billion rupees, data showed.
* On Friday, the index recorded best week since Jan. 20
* For a report on global markets, click ($1 = 361.2500 Sri Lankan rupees) (Reporting by Meenakshi Maidas in Bengaluru; editing by Shweta Agarwal)

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