Sri Lankan shares extend rally as financial, consumer staple firms gain

Sri Lanka's main stock index ended higher for a fifth consecutive session on Monday

  

Sri Lanka's main stock index ended higher for a fifth consecutive session on Monday, driven by gains in financial and consumer staple companies.

** The CSE All Share index closed 1.02% higher at 6,243.76.

** Hatton National Bank and conglomerate Melstacorp were the top boosts to the benchmark, climbing 7.4% and 6.6%, respectively.

** Trading volume on the main index rose to 82.8 million from 76 million in the previous session.

** Sri Lanka dollar bonds lost as much as 3 cents after Fitch downgraded the country's sovereign credit rating to "CCC" on Friday, warning that it was increasingly at risk of default. 

** Foreign investors were net sellers, offloading 149.7 million Sri Lankan rupees ($807,008) worth of shares, according to exchange data.

** Equity market turnover was 2.41 billion Sri Lankan rupees, data showed.

** The Sri Lankan rupee  was last quoted at 185.50 against the dollar.

($1 = 185.5000 Sri Lankan rupees)

(Reporting by Sachin Ravikumar in Bengaluru; Editing by Vinay Dwivedi) ((saisachin.r@tr.com; +91 80 6182 2754; Twitter: @sachinr27))


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