Sri Lankan shares fall as industrials, financials weigh

Sri Lankan shares fall as industrials, financials weigh

31 Oct    Finance News

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Sri Lankan shares closed lower on Monday, hurt by losses in industrial and financial stocks.

* The CSE All-Share index closed 1.45% lower at 8,602.16, exchange data showed. The index had closed down 0.84% on Friday, but saw a weekly gain of 0.5%.

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* Sri Lanka’s key inflation rate slowed to 66% in October after hitting 69.8% in September, the crisis-struck country’s statistics department said on Monday.

* The still extremely elevated Colombo Consumer Price Index LKCCPI=ECI (CCPI) reflected a 85.6% jump in food prices in October and a 56.3% climb in the non-food group, the Census and Statistics Department said.

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* The island nation’s other main inflation measure, the National Consumer Price Index (NCPI) that which captures broader retail price inflation, also touched a record 73.7% in September.

* Conglomerate Expolanka Holdings Plc and LOLC Holdings Plc were the top drags on Monday, falling 6.4% and 3.2%, respectively.

* Trading volume on the CSE All-Share index rose to 42.8 million shares from 41.3 million in the previous session.

* The equity market’s turnover was 1.08 billion Sri Lankan rupees ($2.98 million), according to exchange data.

* Foreign investors were net buyers in the equity market, purchasing 70.4 million rupees of shares, while domestic investors were net sellers, offloading stocks worth 1.06 billion rupees, data showed.

* For a report on global markets, click ($1 = 363.0000 Sri Lankan rupees) (Reporting by Anuran Sadhu in Bengaluru; Editing by Maju Samuel)

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