‘Turnover strikes to near 4 month high on AGST deal’

The bourse closed in the red for the 6th consecutive session on the back of low investor participation ahead of the up-coming holiday season.

The ASPI fell on thin volumes during the day with slight selling interest observed on selected banks (SAMP & SEYB) whilst limited collection was visible on index heavyweights including CTC and HAYL, which resulted in ASPI declining marginally by 9 points to close the day at 10,604.

Furthermore, the turnover was recorded at LKR 5.1Bn (494% higher than the monthly average of LKR 851.3Mn) highest recorded in nearly 4 months, mainly contributed by off-board transactions on both AGST.N and AGST.X which saw 269.0Mn shares traded at LKR 15.00 (totaling to a stake of 58.3%) and 17.5Mn shares traded at LKR 12 (totaling to 66.7%), respectively.

Furthermore, active investor participation on AGPL, SAMP and HNB also backed the turnover exceptionally well during the day. Foreign investors continued as net sellers recording an outflow of LKR 21.2Mn.

AGST and AGST.X led the overall turnover while AGST contributed LKR 4.1Bn (80%) and AGST.X contributed LKR 210.0Mn (4%).

Meanwhile, AGST dominated the market volume with 271.2Mn shares (84%) while AGST.X was the second largest contributor with 17.5Mn shares (5%). Overall volume increased to 323.3Mn. Foreign investors remained net sellers recording a net foreign outflow of LKR 21.2Mn, recording low participation.

Accordingly, MGT, SAMP and EXPO were the top three shares to lead foreign inflow while TJL, JKH and BIL were the three counters recording the largest foreign outflow.

First Capital Research

The post ‘Turnover strikes to near 4 month high on AGST deal’ appeared first on DailyNews.