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Markets

Sri Lankan shares rise over 1pc after cenbank holds key rates

  • The CSE All-Share Index rose for the fifth straight session as it closed 1.4% higher at 7,412.46.
  • Conglomerates Browns Investments Plc and Lanka ORIX Leasing Company Plc were the top boosts to the index, gaining 7.1% and 6.7%, respectively.
08 Apr 2021

Sri Lankan shares closed higher on Thursday, helped by gains in the financial and industrial sectors, and after the country's central bank held its key rate and promised accommodative monetary policy to support economic recovery.

The CSE All-Share Index rose for the fifth straight session as it closed 1.4% higher at 7,412.46.

Conglomerates Browns Investments Plc and Lanka ORIX Leasing Company Plc were the top boosts to the index, gaining 7.1% and 6.7%, respectively.

The Central Bank of Sri Lanka kept the standing deposit facility rate and the standing lending facility rate at 4.50% and 5.50%, respectively. The statutory reserve ratio was also left unchanged at 2%.

Trading volume rose to 150.6 million from 97.7 million in the previous session.

Foreign investors were net sellers, offloading 351.0 million rupees ($1.75 million) worth of shares, according to exchange data.

Equity market turnover was 3.92 billion rupees, exchange data showed.

The Sri Lankan rupee was quoted at 200.5 against the US dollar, as of 1110 GMT, according to Refinitiv data.