Dec 20 (Reuters) - Sri Lankan shares closed lower on Monday, weighed down by losses in industrial and financial stocks, and after ratings agency Fitch downgraded the country's sovereign rating over the weekend.
* The CSE All-Share index (.CSE) ended 0.88% lower at 11,650.10 points.
* Conglomerate LOLC Holdings (LOLC.CM) and financial company LOLC Development Finance (LOLD.CM) were the top two drags on the index, falling 1.8% and 4.3%, respectively.
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* The equity market's turnover was 5.42 billion rupees ($26.83 million), according to stock exchange data.
* Trading volume fell to 239.9 million shares from 314.1 million shares in the previous session.
* Foreign investors were net sellers in the equity market, offloading shares worth 104.8 million rupees, as per exchange data.
* Fitch on Saturday downgraded Sri Lanka's sovereign rating to 'CC' from 'CCC', citing a growing risk of debt default in 2022, despite repeated assurances from the central bank that steps will be taken to meet all repayments. read more
* The central bank on Saturday said it "strongly disputes" Fitch's action and that Fitch demonstrated "its failure to recognise the positive developments taking place in Sri Lanka".
* The island-nation reported 551 new coronavirus cases in the last 24 hours, taking the total to 579,685, while deaths rose by 18 to 14,752, data from the country's health bureau showed.
* About 63.34% of the country's population has been fully vaccinated, according to data from Johns Hopkins University.
* For a report on global markets, click
($1 = 202.0000 Sri Lankan rupees)
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Reporting by Anuron Kumar Mitra in Bengaluru
Our Standards: The Thomson Reuters Trust Principles.
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December 20, 2021 at 07:02PM
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