Sri Lankan shares close at record high as industrials boost

Sri Lankan shares closed at an all-time high on Tuesday

  

Sri Lankan shares closed at an all-time high on Tuesday, driven by industrial stocks.

* The CSE All-Share index closed 0.75% higher at 9,339.28 points.

* Conglomerate Expolanka Holdings Plc and LOLC Holdings were the top boosts to the index, rising 3.3% and 4.49%, respectively.

** "A few large market cap stocks significantly moving up in value is moving the market," said Dimantha Mathew, head of research with First Capital Holdings in Sri Lanka.

** "With the low interest rate environment there is a massive retail volume in the market and with that there is a bit of herd mentality that is moving the market."

* The equity market's turnover was about 6.66 billion rupees, according to stock exchange data.

* Trading volume on the exchange rose to 263.59 million shares from 202.76 million shares in the previous session.

* Foreign investors were net sellers in the equity market, offloading shares worth about 317.70 million rupees, as per exchange data.

* The island nation reported 983 new coronavirus cases in the last 24 hours, taking the total to 514,592.

* It reported 51 fatalities due to COVID-19 in the last 24 hours, bringing the death toll to 12,731, health bureau data showed.

* About 53.25% of the country's entire population is fully vaccinated so far, according to data from Johns Hopkins University.

(Reporting by Nallur Sethuraman in Bengaluru; Editing by Amy Caren Daniel) ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))


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