Sri Lankan shares end lower as industrials drag
July 5 (Reuters) - Sri Lankan shares closed more than 1% lower for a second straight session on Tuesday, hurt by losses in industrial and financial stocks.
* At the end of trade, the CSE All-Share index .CSE was down 1.64% at 7,238.59.
* Sri Lanka is currently facing its worst economic crisis in seven decades, unable to pay for essential imports such as fuel and medicine due to a severe shortage of foreign exchange.
* The island nation will present a debt restructuring plan to the International Monetary Fund (IMF) by the end of August, in a bid to win approval for a four-year funding programme, the prime minister said on Tuesday.
* After reaching a staff-level agreement with the IMF, Sri Lanka aims to hold a donor conference with China, India and Japan to secure more loans, the prime minister told lawmakers.
* A top Sri Lankan minister said on Sunday the country was struggling to raise $587 million to pay for about half a dozen fuel shipments.
* On the CSE All-Share index, trading volume halved to 52.6 million shares from 109.8 million shares in the previous session.
* Conglomerate Expolanka Holdings Plc EXPO.CM and LOLC Development Finance Plc LOLD.CM were the top losers on the index, dropping 5.5% and 15.2% respectively.
* The equity market turnover was 916.3 million rupees ($2.58 million), according to exchange data.
* Foreign investors were net buyers in the equity market, purchasing 40.6 million rupees worth of shares, while domestic investors were net sellers, offloading 896.3 million rupees worth of shares, the data showed.
* For a report on global markets, click ($1 = 355.0000 Sri Lankan rupees)
Reporting by Rama Venkat in Bengaluru
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