Sri Lankan shares set record close on consumer, financial stocks boost

Sri Lankan shares notched a record closing high on Tuesday and advanced for the seventh consecutive session, boosted by gains in consumer and financial stocks.

The CSE All-Share index ended 0.8% higher at 10,127.04 points, a record close for the index. It hit an all-time high of 10,147.69 earlier in the session.

Investment co Browns Investments PLC and Commercial Leasing and Finance Plc were the top boosts to the index, rising 7.5% and 3.8%, respectively. LOLC Development Finance Plc was the top drag to the index, falling 5.7%.

The country's central bank said on Tuesday it was expecting investments of around $1.1 billion from deals in multiple sectors to help top up the country's flagging foreign exchange reserves.

Sri Lankan shares hit fresh record highs propelled by industrial gains

It added that it was in talks with the Reserve Bank of India, the People's Bank of China and some other central banks to finalise foreign currency swap arrangements.

The equity market's turnover was 6.72 billion rupees, according to stock exchange data.

Trading volume on the exchange rose to 272.3 million shares from 235.9 million shares in the previous session.

Foreign investors were net sellers in the equity market, offloading shares worth about 138.3 million rupees, as per exchange data.

The island-nation reported 561 new coronavirus cases in the last 24 hours, taking the total to 536,645, while the COVID-19 death toll reached 13,640, according to data from the country's health bureau.