Sri Lankan shares extend losing streak to tenth day as financials, energy weigh

Kitco Media
By Reuters
Published:
Updated:
Reuters
April 28 (Reuters) - Sri Lankan shares declined for the tenth straight session on Friday, weighed down by financial and energy stocks.


* The CSE All Share index settled 0.32% lower to 8,983.21 on Friday. For the week, the index ended 3% down in its second straight weekly loss.
* Meanwhile, Sri Lanka's key inflation rate eased to 35.3% in April from 50.3% in March, the statistics department said on Friday, after the market closed.


* The Colombo Consumer Price Index (CCPI) reflected a reduction in food inflation to 30.6% in April from 47.6% in March, while non-food inflation reached 37.6%, the Census and Statistics Department said in a statement.


* Sri Lanka's trade deficit in March narrowed to $412 million from $761 million a year ago, while merchandise exports and imports declined 2% and 20.3%, respectively, according to data from its central bank released after market close on Friday.
* On the CSE All Share index, LOLC Finance Plc and Sri Lanka Telecom Plc were the top decliners on the index, falling 1.79% and 1.09%, respectively.
* Expolanka Holdings Plc and Carson Cumberbatch Plc , were the top gainers, advancing 2.4% and 4%, respectively.
* Trading volume on the index rose to 42.6 million shares from 35.9 million in the previous session.
* The equity market's turnover rose to 895.8 million Sri Lankan rupees ($2.80 million) from 928.8 million rupees in the previous session, according to exchange data.
* Foreign investors were net sellers, offloading stocks worth 195.1 million rupees, while domestic investors were net buyers, purchasing shares worth 846.2 million rupees, the data showed.
* For a report on global markets, click ($1 = 320.0000 Sri Lankan rupees) (Reporting by Ashna Teresa Britto in Bengaluru; Editing by Shweta Agarwal)

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