Sri Lankan shares extend losses as industrials drag

Kitco Media
By Reuters
Published:
Updated:
Reuters
April 26 (Reuters) - Sri Lankan shares closed lower on Wednesday, dragged by industrial stocks.



* The CSE All Share index fell 0.37% to 9,091.72, marking eight straight sessions of losses.


* Sri Lanka is trying to reduce its overall debt by $17 billion through restructuring, its president told the parliament on Wednesday as he sought support of opposition parties for a nearly $3 billion International Monetary Fund (IMF) programme.
* President Ranil Wickremesinghe also said the country would discuss debt restructuring with India and the Paris Club of creditors on one platform and with China separately.
* Expolanka Holdings and C T Holdings Plc were the top decliners on the CSE All Share index, down 0.94% and 7.2%, respectively.


* Trading volume for the CSE All Share index fell to 34.1 million shares from 61.3 million in the previous session.
* The equity market's turnover fell to 740.5 million Sri Lankan rupees ($2.31 million) from 1.14 billion rupees in the previous session, according to exchange data.
* Foreign investors were net buyers in the equity market, purchasing stocks worth 144.4 million rupees, while domestic investors were net sellers, offloading shares worth 697.1 million rupees, the data showed.
* For a report on global markets, click ($1 = 321.0000 Sri Lankan rupees) (Reporting by Ashna Teresa Britto in Bengaluru)

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