Nov 15 (Reuters) - Sri Lankan shares closed lower for
second straight session on Tuesday dragged by industrial
companies, while investors stayed wary after the country's
central bank Governor P. Nandalal Weerasinghe and Treasury
secretary Mahinda Siriwardana held a news conference to discuss
the 2023 budget proposals laid out on Monday.
* At the close of trade, the CSE All-Share index fell
0.86% to 8,291.15, weighed by losses in industrial stocks.
* At the conference earlier in the day, Weerasinghe said Sri
Lanka needs to implement budget proposals and reform measures to
start earning crucial foreign exchange to help stabilise its
economy and ensure it does not return to crisis.
* "We expect relief from creditors but in order to convince
them to share the pain we also have to show them that we are
taking a share in the pain as well," he added.
* He reiterated the need for Sri Lanka to reform its
loss-making state-owned enterprises so they stop being a burden
on the banks, the government and the people.
* Treasury secretary Siriwardana said government was setting
up a presidential committee to monitor and ensure timely
implementation of budget proposals.
* On the CSE All-Share index on Tuesday, conglomerates
Expolanka Holdings PLC and Richard Pieris & Company
PLC were the top drags, falling 3.7% and 13.9%,
* Trading volume on the CSE All-Share index rose to 62
million shares from about 43.5 million in the previous session.
* The equity market's turnover was 1.58 billion Sri Lankan
rupees ($4.35 million), compared with 941.1 million rupees in
the previous session, according to exchange data.
* Foreign investors were net buyers in the equity market,
purchasing stocks worth 156.6 million rupees, while domestic
investors were net sellers, offloading shares worth 1.57 billion
rupees, data showed.
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($1 = 363.0000 Sri Lankan rupees)
(Reporting by Ashish Chandra in Bengaluru; Editing by Dhanya