Sri Lankan stocks end at record high, best weekly gain in 7 months

(Adds details about exchange data)

Aug 27 (Reuters) – Sri Lankan stocks closed at an all-time high on Friday, posting their best week in seven months, as consumer shares gained.

* The CSE All-Share Index, which rose a staggering 1.78% during the session, gave up most of the gains, closing 0.12% higher at 8,931.33 points.

* The number of COVID-19 cases has increased by 4,602 in the past 24 hours, bringing the total to 412,370, even though the island remains in lockdown. The country also extended the lockdown, which was due to end on August 30, to September 6.

* Meanwhile, S&P Global lowered its outlook for Sri Lanka’s CCC+ rating from stable to negative on Friday, warning the government that it could become increasingly difficult to fund itself over the next 12 months.

* The benchmark index is up 8.4% this week, the most since the week ending January 22.

* Sri Lankan stocks, up 31.84% so far this year, performed best in Asia, according to data from Refinitiv Eikon.

* Conglomerate Browns Investments Plc was the biggest boost for the index on Friday, with a gain of 24.7%.

* Sri Lanka reported 209 fatalities here due to COVID-19 in the past 24 hours, bringing the death toll to 8,157.

* Facts here from Johns Hopkins University showed that the country has so far fully vaccinated 28.08% of the population.

* According to stock market data, the stock market turnover was 16.49 billion rupees here.

* Trading volume on the exchange increased to 648.6 million shares from 285.4 million shares in the previous session.

* Foreign investors were net buyers in the stock market, buying shares worth 129.8 million rupees, stock market data showed.

* Thirty-two stocks hit new highs, while 26 hit new lows on the main exchange, according to data from Refinitiv Eikon.

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* For a report on major currencies, click on (Reporting by Nallur Sethuraman in Bengaluru; Additional Reporting by Gaurav Dogra in Bengaluru and Waruna Karunatilake in Colombo; Editing by Vinay Dwivedi)