Sri Lankan shares rise on industrial, material gains

SourceZawya
SectorFinancial Markets
CountryGulf

Sri Lankan shares closed higher on Tuesday, boosted by gains in industrial and material stocks* The CSE All-Share Index ended up 0.87% at 7,280.27, posting its third straight session of gains.* Conglomerates Hayleys Plc and Vallibel One Plc were the top boosts to the index on Monday, gaining 9.5% and 8%, respectively.* Palm oil cultivators Shalimar Estates and Watawala Plantations Plc fell 14.8% and 7.8%, respectively, a day after the country banned imports of palm oil and new palm plantations and told producers to uproot existing plantations. * Meanwhile, the country's cabinet on Tuesday approved the purchase of six million doses of Russia's Sputnik-V vaccine for $69.65 million. The island nation had reported 93,595 total confirmed cases and 586 deaths, as of April 6.* Trading volume fell to 69.2 million from 77.6 million in the previous session.* Foreign investors were net sellers, offloading 231.3 million rupees ($1.16 million) worth of shares, according to exchange data.* Equity market turnover was 2.48 billion rupees, exchange data showed.* The Sri Lankan rupee was quoted at 199.5 against the U.S. dollar, as of 1112 GMT, according to Refinitiv data.($1 = 199.5000 Sri Lankan rupees)(Reporting by Soumyajit Saha in Bengaluru; Editing by Amy Caren Daniel) ((Soumyajit.Saha@thomsonreuters.com;)) ...read more...