(Reuters) – Sri Lankan shares ended weaker on Tuesday falling for the second straight session, as investors sold large-cap shares two weeks ahead of presidential polls. ** Investor concerns were on the rise over the country’s two top presidential candidates’ election giveaway offers, that officials and a credit rating agency are warning would push the country deeper into debt. ** The International Monetary Fund approved the release of sixth tranche of a $1.5 billion loan programme for Sri Lanka, while urging authorities to show fiscal discipline as the island nation heads into the poll later this month. ** Sajith Premadasa, the housing minister and one of the two presidential front-runners, last week announced his election manifesto, which is seen by analysts as a “broader policy framework”. His close rival Gotabaya Rajapaksa has pledged a tax overhaul that would reduce tax rate to 8% from the current 15% and abolish many taxes. ** Many political analysts that Reuters spoke to have said the tight race between the two candidates was still on. ** The benchmark stock index ended 0.27% weaker at 5,993.66, further moving away from its highest close since Jan. 4. Last week, the index rose 1.6% in its fourth straight weekly gain, but is down 0.97% this year. ** Large-cap stocks were among the top losers, with Ceylon Tobacco Company Plc falling 2.8%. Ceylon Cold Stores Plc ended 2.4% down, while conglomerate John Keells Holdings Plc ended 0.65% lower. The biggest-listed lender, Commercial Bank of Ceylon Plc, dropped 1.01%. ** The rupee ended 0.67% firmer at 180.20/40 per dollar, compared with Monday’s close of 180.40/60. The currency is up 1.3% so far this year. ** Foreign investors were net sellers of riskier assets for the nine times in ten sessions on Tuesday.
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