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Browns Investments : Sri Lankan shares end at record high, post best weekly gain in 7 months

08/27/2021 | 08:01am

Aug 27 (Reuters) - Sri Lankan shares closed at a record high on Friday and posted their best week in seven months, as consumer stocks gained.

* The CSE All-Share index, which rose as much as 1.78% during the session, gave up most gains to close 0.12% higher at 8,931.33 points.

* COVID-19 cases rose by 4,602 in the last 24 hours, taking the total to 412,370, even as the island-nation remains under a lockdown. The country on Friday also extended its lockdown, which was to end on Aug. 30, to Sept. 6.

* Meanwhile, S&P Global cut Sri Lanka's CCC+ sovereign rating outlook to "negative" from "stable" on Friday, warning the government may find it increasingly difficult to finance itself over the next 12 months.

* The benchmark index has risen 8.4% for the week, the most since the week ending Jan. 22.

* Sri Lankan shares, which have gained 31.84% so far this year, have been the best performers in Asia, according to Refinitiv Eikon data.

* Conglomerate Browns Investments Plc was the top boost to the index on Friday, gaining 24.7%.

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

* Data from Johns Hopkins University showed the country has fully vaccinated 28.08% of its population so far.

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

* For a report on global markets, click

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

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