Sri Lankan shares ended higher for the third straight session on Tuesday, supported by gains in industrial stocks.

 

* At the close of trade, the CSE All-Share index was up 0.87% at 7,365.67.

* Conglomerate Expolanka Holdings and Browns Investments were the top gainers on the index, rising 2.7% and 5.6% respectively.

* The island nation is currently facing its worst economic crisis in seven decades, unable to pay for essential imports such as fuel and medicine due to a severe shortage of foreign exchange.

* Sri Lankan immigration officials stopped the president's brother and former finance minister Basil Rajapaksa from flying out of the country on Tuesday, as anger mounted over the island's worst economic crisis in decades.

* Sri Lanka's sovereign dollar bonds extended recent declines on Tuesday to touch fresh record lows.

* The turmoil comes as Sri Lanka is pushing for a possible $3 billion extended financing programme from the International Monetary Fund.

* On the CSE All-Share index, trading volume rose to 56.9 million shares from 52.9 million shares in the previous session.

* The equity market turnover was 1.11 billion rupees ($3.13 million), up from 811.1 million rupees in the earlier session, according to exchange data.

* Foreign investors were net sellers in the equity market, offloading 31.5 million rupees worth of shares, while domestic investors were net buyers, purchasing 1.09 billion rupees worth of shares, the data showed.

* For a report on global markets, click ($1 = 355.0000 Sri Lankan rupees) (Reporting by Rama Venkat in Bengaluru; Editing by Shounak Dasgupta)


Reuters