Sri Lankan shares snap 4-day losing streak on financials boost

Sri Lankan shares recovered on Thursday after a four-day losing streak, helped by strong gains in the financial sector.

The CSE All-Share index, which was up 2.54% at 8,986.40 points at the closing bell, is still down over 3.5% for the week.

The benchmark index had fallen 8.22% from its all-time high during the previous trading session.

Financial co Browns Investments Plc and micro lender LOLC Development Finance Plc were top boosts, rising 8.7% and 10.6%, respectively.

The equity market's turnover was 5.79 billion rupees, according to stock exchange data.

Trading volume on the exchange dropped to 265.3 million shares from 489.7 million shares in the previous session.

Foreign investors were net buyers in the equity market, purchasing shares worth 410.7 million rupees, exchange data showed.

The Central Bank of Sri Lanka on Wednesday evening requested licensed banks in the country to further extend concessions for borrowers to December 31 as the nation grapples with a devastating surge in coronavirus cases

Sri Lankan shares extend losing streak, financials and industrials weigh

The island nation reported 2,917 new coronavirus cases in the last 24 hours, taking the total to 474,780, even as the country remains under a lockdown.

Sri Lankan medical experts have appealed for a delay in pregnancies by a year due to COVID-19. About 5,500 pregnant women have been infected by the coronavirus.

Sri Lanka reported 185 fatalities due to COVID-19 in the last 24 hours, bringing the death toll to 10,689, health bureau data showed.