Sri Lankan shares end at record levels boosted by financials, energy
- Date: 18-Oct-2021
- Source: Zawya
- Sector:Financial Markets
- Country:Gulf
Sri Lankan shares end at record levels boosted by financials, energy
Strong gains in financial and energy stocks aided Sri Lankan shares to close at an all-time high on Monday. * The CSE All-Share index were up 0.89% at 9,709.14 points at the closing bell. * Commercial Leasing and Finance Plc and conglomerate Expolanka Holdings were top boosts to the index, rising 18% and 1.2%, respectively. * According to media reports, the Sri Lankan government has decided to obtain a loan facility of $500 million from India to purchase crude oil amid a severe foreign exchange crisis in the island nation. * On Friday evening, data from the Central Bank of Sri Lanka showed an increase of 9.2 and 6 index points in the manufacturing sector PMI and the services sector PMI, respectively, for September. * The expectations for business activities for the next 3 months rose in September following easing of travel restrictions as domestic COVID-19 cases fell, while those for manufacturing activities remain at elevated levels anticipating further improvements in economic condition. * Last week, the Sri Lankan cenbank held interest rates steady on Thursday as it sought to support economic recovery after increasing rates in August. * The equity market's turnover was 2.75 billion rupees ($13.75 million), according