March 4, 2020 / 1:36 PM / a month ago

Sri Lanka shares snap two-day gains as financials, industrials weigh

March 4 (Reuters) - Sri Lankan markets snapped two sessions of gains to settle lower on Wednesday, dented by losses in financial and industrial sectors.

Global stock markets were mixed as investors digested an emergency rate cut from the U.S. Federal Reserve aimed at combating the coronavirus’ fallout, and a strong performance by Joe Biden in the Democratic Party primaries in the United States.

** The benchmark stock index closed down 1.48% at 5,535.45. The index fell 4.1% in the past week and lost 9.7% for the year so far.

** Conglomerate John Keels Holdings Plc and financial services firm Lanka ORIX Leasing Co Plc were among the top drags in the CSE index, falling 1.3% and 3.4%, respectively.

** Foreign investors were net sellers, offloading 128.8 million rupees ($707,886.78) worth of shares, according to exchange data.

** Equity market turnover was 478.2 mln rupees, data showed.

** The Sri Lankan rupee was last quoted at 181.95 against the U.S. dollar, as of 1230 GMT, 0.03% stronger compared with the previous session’s close of 182, according to Refinitiv data.

** For a report on global markets, click

** For a report on major currencies, click ($1 = 181.9500 Sri Lankan rupees) (Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Sherry Jacob-Phillips)

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