Sri Lankan shares end lower, snapping three consecutive sessions of gains

Sri Lankan shares end lower on Tuesday, hurt by energy and materials stocks.

The CSE All Share index settled 0.13% lower at 8,914.74 on Tuesday, after three consecutive sessions of gains.

India has extended a $1 billion credit line for Sri Lanka by one year, a Sri Lankan official told Reuters on Tuesday, giving the crisis-hit country a backup funds to pay for essential imports.

The credit line, part of about $4 billion in emergency assistance extended by India during the peak of Sri Lanka’s financial crisis early last year, was scheduled to end in March.

LOLC Finance Plc and Cargills (Ceylon) Plc were the top losers on the CSE All Share, falling ~1.9% and ~3%, respectively.

Sri Lankan shares end higher as industrials and financials rise

Trading volume on the index fell to 28 million shares from 46.6 million in the previous session.

The equity market’s turnover fell to 667.8 million Sri Lankan rupees ($2.10 million) from 885.2 million rupees in the previous session, according to exchange data.

Foreign investors were net buyers, purchasing stocks worth 39.9 million rupees, while domestic investors were net sellers, offloading shares worth 657.4 million rupees, data showed.