Sri Lankan shares dive 2pc on rising coronavirus cases

Sri Lankan shares fell more than 2% on Monday, hurt by losses in financial and consumer staple companies, as several clusters of coronavirus infections emerged in the island nation.

The benchmark CSE All Share Index closed down 2.26% at 4,879.8, its biggest one-day percentage drop since May 12 and marked its second straight session of losses.

Several COVID-19 cases were reported https://bit.ly/2Cy8Amp in a drug rehabilitation centre in the north central province and officials said authorities were battling with the epidemic as more clusters of the infection emerged.

Lanka will also delay the opening up of its airports, local media reported, quoting the country's civil aviation minister.

As of Monday, the country's total coronavirus cases stood at 2,617, including 11 deaths.

Conglomerate John Keells Holdings Plc fell 2.26%, while food and beverages maker Nestle Lanka Plc dropped 5.3%, and were the biggest drags on the index.

Foreign investors were net buyers, purchasing 394.4 million Sri Lankan rupees ($2.12 million) worth of shares, according to exchange data.

Trading volume fell to 49.8 million from 75.1 million in the previous session, while equity market turnover was about 1.3 billion rupees.

The Sri Lankan rupee was last quoted at 185.85 against the dollar as of 0134 GMT, compared with the previous session's close of 185.75.