Sri Lankan shares end lower, snapping three consecutive sessions of gains

Kitco Media
By Reuters
Published:
Updated:
Reuters
May 9 (Reuters) - Sri Lankan shares end lower on Tuesday, hurt by energy and materials stocks.



* The CSE All Share index settled 0.13% lower at 8,914.74 on Tuesday, after three consecutive sessions of gains.
* India has extended a $1 billion credit line for Sri Lanka by one year, a Sri Lankan official told Reuters on Tuesday, giving the crisis-hit country a backup funds to pay for essential imports.
* The credit line, part of about $4 billion in emergency assistance extended by India during the peak of Sri Lanka's financial crisis early last year, was scheduled to end in March.
* LOLC Finance Plc and Cargills (Ceylon) Plc were the top losers on the CSE All Share, falling ~1.9% and ~3%, respectively.
* Trading volume on the index fell to 28 million shares from 46.6 million in the previous session.
* The equity market's turnover fell to 667.8 million Sri Lankan rupees ($2.10 million) from 885.2 million rupees in the previous session, according to exchange data.
* Foreign investors were net buyers, purchasing stocks worth 39.9 million rupees, while domestic investors were net sellers, offloading shares worth 657.4 million rupees, data showed.
* For a report on global markets, click ($1 = 318.0000 Sri Lankan rupees) (Reporting by Ashna Teresa Britto in Bengaluru)

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