Sri Lankan shares drop over 1% as industrials, financials weigh – Reuters

March 2 (Reuters) – Sri Lankan shares fell more than 1% on Wednesday after 2 sessions of strong gains, weighed down by losses in commercial and monetary stocks. * The CSE All-Share index (. CSE) ended down 1.48% at 11,406.34. The index had actually posted gains of more than 4% in the previous 2 sessions, while the market was shut on Tuesday. * Conglomerates Expolanka Holdings (EXPO.CM) and LOLC Holdings (LOLC.CM) were the leading drags out the index, closing 3% and 2.6% lower, respectively.Register now free of charge unrestricted access to Reuters.comRegister * Foreign investors were net sellers in the equity market, offloading shares worth 95.1 mln rupees ($469,629.63), while domestic investors were net purchasers, getting shares worth 3.02 billion rupees, exchange data revealed. * The equity market turnover was 3.07 billion rupees. * The trading volume was up to 132.8 million shares from 212.3 million shares in the previous session. * Investors will be looking out for the reserve bank rate choice on Friday. A Reuters survey approximates the reserve bank will raise rates for the second time this year. find out more * The island-nation has actually reported 646,948 coronavirus cases and 16,244 deaths as of Tuesday, information from the nations health bureau showed. * About 65.03% of Sri Lankas population has actually been totally immunized, according to data from Johns Hopkins University. * For a report on international markets, click($1 = 202.5000 Sri Lankan rupees)Register now totally free unlimited access to Reuters.comRegisterReporting by Anuron Kumar Mitra in Bengaluru; Editing by Aditya SoniOur Standards: The Thomson Reuters Trust Principles.

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