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Markets

Sri Lankan shares fall as virus cases surge

  • The CSE All-Share Index fell 1.44% to 7,111.45. Its worst one-day fall since April 27.
  • Sri Lanka reported 1,923 new COVID-19 cases on Monday, a record increase, while overall deaths have crossed 700 so far, according to a Johns Hopkins University tally.
04 May 2021

Sri Lankan shares clocked broad-based losses to end lower on Tuesday after the South Asian nation posted a record daily rise in coronavirus infections.

The CSE All-Share Index fell 1.44% to 7,111.45. Its worst one-day fall since April 27.

Sri Lanka reported 1,923 new COVID-19 cases on Monday, a record increase, while overall deaths have crossed 700 so far, according to a Johns Hopkins University tally.

The island nation's government had last month imposed fresh restrictions on public gatherings to help contain the surge in infections.

Conglomerates LOLC and Browns Investments Plc were the top drags on the CSE All-Share Index, falling 5.2% and 4.4%, respectively.

Trading volumes fell to 195.5 million from 209.5 million in the previous session.

Foreign investors were net sellers in the equity market, offloading shares worth 858.4 million Sri Lankan rupees ($4.4 million), according to exchange data.

Equity market turnover was 3.02 billion rupees.