Sri Lankan shares end higher on industrial, financial boost

Sri Lankan shares jumped over 3% on Wednesday, continuing their rally on the back of strong gains in industrial and financial stocks as the newly appointed central bank chief said he would focus on restoring financial stability.

After taking office, the governor of the Central Bank of Sri Lanka, Ajith Nivard Cabraal, said he would soon announce a policy package to achieve financial stability.

The CSE All-Share index closed 2.75% higher at 8,931.21 points, on track to log a weekly gain.

Conglomerate Expolanka Holdings Plc and Browns Investments Plc which manages a portfolio of investments and listed securities were top boosts to the index, rising 11.8% and 10%, respectively.

The equity market's turnover was about 5.50 billion rupees according to stock exchange data.

Sri Lankan shares close higher as industrial stocks surge

Trading volume on the exchange rose to 293.3 million shares from 148.7 million shares in the previous session.

Foreign investors were net sellers in the equity market, offloading shares worth 52.4 million rupees, exchange data showed.

The island-nation reported 2,475 new coronavirus cases in the last 24 hours, taking the total to 494,109.

It reported 136 fatalities due to COVID-19 in the last 24 hours, bringing the death toll to 11,567, health bureau data showed.

About 48.95% of the country's population is fully vaccinated so far, data from Johns Hopkins University showed.