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Sri Lanka shares extend gains boosted by financial stocks

July 5 (Reuters) - Sri Lankan shares settled higher on Monday, extending gains for a second session, supported by gains in financial stocks.

* The CSE All-Share index ended up 0.62% at 7,794.21. Last week, it fell 0.8%.

* Sri Lankan banks’ performance in 2020 and first quarter of 2021 exceeded initial expectations, thanks to stimulus and regulatory relief measures - Fitch Ratings said.

* However, risks to the country’s banks’ performance and operating environment remain, due to pressure stemming from COVID-19 and the sovereign credit profile - Fitch.

* Last month, Fitch recalibrated its Sri Lanka National Rating scale.

* On Monday, financial stocks LOLC Development Finance and Commercial Leasing & Finance were among the top boosts to the index, rising 21.8% and 8.1%,respectively.

* The state minister for pharmaceutical production, Channa Jayasumana said on Sunday the country will receive 26,000 Pfizer vaccines on Monday.

* Sri Lanka has reported 265,630 total confirmed coronavirus cases and 3,236 deaths, as of Monday, according to health ministry data here.

* Last week, the country’s president directed health authorities to vaccinate all people above the age of 30 in Western Province, before July 31.

* So far, the island nation has fully vaccinated about 5.5% of its population, according to Johns Hopkins data here.

* On Monday, trading volume on the exchange fell to 43.7 million from 53 million in the previous session.

* Foreign investors were net sellers in the equity market, offloading shares worth 610.2 million rupees, exchange data showed here.

* The equity market’s turnover was 1.42 billion rupees, according to exchange data.

* For a report on global markets, click

* For a report on major currencies, click (Reporting by Chandini Monnappa in Bengaluru; Additional reporting by Waruna Karunatilake in Colombo)

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