Market rebounds by +2% in September

The Colombo Bourse closed positive in September, with the benchmark All Share Price Index (ASPI) rising 2.% MoM to 11,336 points (an increase of 221 index points MoM). Meanwhile, the more liquid S&P SL20 index rose 2.1% MoM to 3,198 points (an increase of 67 index points).

Average daily turnover decreased to Rs.1,409mn in September 2023 (vs. Rs. 3,280 mn in August 2023). Top contributors to monthly turnover were John Keells Holdings (JKH, Rs.3,425mn, 18mn shares), Melstacorp (MELS, Rs.1,660mn, 19mn shares), and Capital Alliance (CALT, Rs.1,463mn, 18mn shares).

Net foreign outflows recorded at -Rs.1,450mn in September 2023 following a net foreign inflow of Rs.1,805mn in August 2023. During the month, net foreign buying was seen in C T Holdings (CTHR, +Rs.123mn), Tokyo Cement Company (Lanka) (Voting) (TKYO-N, +Rs.61mn), and Hayleys Fabric (MGT, +Rs.58mn), whilst net foreign selling was seen in John Keells Holdings

(JKH, -Rs.1,616mn), Distilleries Company of Sri Lanka (DIST, -Rs.84mn), and Ceylinco Insurance (Non-Voting) (CINS- X, -Rs.41mn).

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