Uncertainty weighs down on ASPI

Bourse closed in red for the 6th straight day as investor sentiment was hampered following speculations on local debt restructuring coupled with the delay in achieving the IMF board-level agreement.

Index witnessed a steep downtrend as the market opened and hit an intraday low of 8,351. Subsequently, the index began to display a gradual recovery while decrease in NCPI inflation to 65 % in Nov-22 supported the positive sentiment, but the index closed lower at 8,397 losing 23 points failing to recover the losses. Meanwhile, market turnover declined compared to the previous session and recorded at LKR 2 Bn (-20% cf. monthly average turnover of LKR 2.5 Bn) mainly led by the Transportation sector.

Courtesy First Capital Research