March 7 (Reuters) - Sri Lankan shares rose for a fourth
straight session on Tuesday, lifted by gains in financial
stocks, as the crisis-hit country awaited the approval of a
$2.9-billion loan.
* The CSE All-Share index rose 2.1% to 9,642.94. The
index had settled 1.2% higher on Friday; markets were closed on
Monday for a holiday.
* Sri Lanka's central bank had on Friday raised its standing
deposit facility and standing lending facility rates by a 100
basis points each and said it would relax its currency band to
move towards a market-determined exchange rate.
* Sri Lanka expects final approval from the International
Monetary Fund (IMF) for the $2.9-billion loan in the third or
fourth week of March, President Ranil Wickremesinghe said on
Tuesday, adding that new support from China meant all funding
requirements had been met.
* Financial services company LOLC Finance and
communication services company Dialog Axiata added the
biggest boosts to the index, rising 6.7% and 9.9%, respectively.
* Trading volume rose to 115 million shares from 93.6
million in the previous session.
* The equity market's turnover rose to 3.44 billion Sri
Lankan rupees ($10.75 million), compared with 2.86 billion Sri
Lankan rupees in the previous session, according to exchange
data.
* Foreign investors were net sellers in the equity market,
offloading stocks worth 389.9 million Sri Lankan rupees, while
domestic investors were net buyers, purchasing shares worth 3.23
billion Sri Lankan rupees, data showed.
* For a report on global markets, click ($1 = 320.0000 Sri Lankan rupees)
(Reporting by Nishit Navin in Bengaluru; Editing by Pooja
Desai)
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