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* Sri Lankan shares end higher on boost from industrial, financial stocks
Tue, Jul 20, 2021, 08:07 pm SL Time, ColomboPage News Desk, Sri Lanka.

July 20 (Reuters) - Sri Lankan shares closed higher on Tuesday, boosted by gains in heavyweight industrial and financial stocks. The CSE All-Share index ended up 0.57% at 8,068.33.

On Monday, the index had closed above the 8,000 level for the first time since Feb. 8.

Conglomerates LOLC Holdings and Expolanka Holdings Plc were the top boosts to the index, gaining 3% and 2.7%, respectively.

A total of 1,487 coronavirus cases were reported in the last 24 hours, bringing the island nation’s total confirmed cases to 286,419, while deaths rose by 48 to reach a total of 3,827, according to the health ministry’s data here.

The country has fully vaccinated about 7.74% of its population so far, according to data here from Johns Hopkins.

Ratings agency Moody’s on Monday said it had placed Sri Lanka’s “Caa1” rating under review for a downgrade, citing the risk of default due to falling foreign exchange reserves.

Sri Lanka’s finance ministry in a statement on Monday called Moody’s announcement "ill-timed" and "ill-judged", and said the ratings agency’s action "could create uncertainty among investors who have kept faith in Sri Lankan international sovereign bonds and other investments".

Trading volume on the exchange fell to 310.2 million shares from 439 million shares in the previous session.

Foreign investors were net sellers in the equity market, offloading shares worth 491.3 million rupees ($2.47 million), exchange data showed here.

The equity market’s turnover was 4.89 billion rupees, according to exchange data.

Read More:: Reuters (Source)