May 13, 2020 / 2:11 PM / 18 days ago

Sri Lanka shares jump; central bank unveils stimulus after markets close

May 13 (Reuters) - Sri Lankan stocks rose on Wednesday, boosted by gains in financials and consumer stocks, while the central bank announced stimulus measures to bolster the tourism-dependant economy during the COVID-19 pandemic after markets closed.

** The benchmark stock index closed up 2.81% at 4367.25, snapping a two-day losing streak.

** Sri Lanka’s central bank said it would provide additional funding under refinance facility or other credit operations for the banking sector, adding it would now permit licensed banks to consider some assets as liquid in computation of the statutory liquid assets ratio.

** The island nation, which is heavily dependent on tourism, has reported 889 confirmed coronavirus cases and nine deaths as of Tuesday.

** Ceylon Cold Stores Plc, which makes soft drinks and ice creams, rose 17% and was the biggest boost on the index, while Ceylinco insurance, down 21%, was the biggest drag.

** Trading volume on the CSE All Share Index was at 42.6 million

** Foreign investors were net sellers in the equity market, offloading 664.4 million Sri Lankan rupees ($3.53 million) worth of shares, according to exchange data.

** The Sri Lankan rupee was last quoted at 188 against the U.S. dollar as of 12:59 GMT

** Equity market turnover was 978.4 million Sri Lankan rupees, data showed.

** For a report on global markets, click

** For a report on major currencies, click ($1 = 188.0000 Sri Lankan rupees) (Reporting by Philip George; Editing by Amy Caren Daniel)

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