ASPI touches 4 ½ -month high

Bourse continued to rally for the sixth consecutive day while hitting a 4 ½ -month high, as high net worth and institutional investors’ interest persisted mainly on the fundamentally strong counters and blue chip companies during the session. Index displayed slight volatility in the beginning yet gradually recovered and gained sharply to break the 9,200 level to close the day at 9,256 gaining 96 points.

After the weighted average yields recorded only a marginal dip during yesterday’s weekly bill auction, Treasury counters displayed a dull performance during the day. Meanwhile, as retailers continued to be on the sidelines waiting for a clear direction on the macroeconomic front (IMF approval) turnover skid to LKR 1.5 Bn (-18% cf. monthly average turnover of LKR 1.9 Bn). Off-board transactions of SAMP and HAYL together contributed 7% to the market turnover, accordingly, Food, Beverage and Tobacco and Capital goods sectors jointly accounted for 46%. HAYL and SAMP led overall turnover while HAYL contributed LKR 186.2 Mn (12%), while SAMP contributed LKR 143.0Mn (9%). Meanwhile, BIL dominated the market volume with 10.7Mn shares (17%) while UBC recorded the second largest volume of 5.2Mn shares (8%). Overall volume witnessed a slight dip compared to the previous session and recorded at 62.4Mn. Top gainers for the day were TAJ (+16%), SDF (+15%), PMB (+14%), SEMB (+14%) and COLO (+14%). Meanwhile, top losers for the day were SING (-25%), CSF (-17%), RENU (- 9%), CHL (-7%) and BFN (-5%).

Foreign investors turned net buyers after 3 days despite low participation and recorded a net foreign inflow of LKR 40.7Mn. Accordingly, LION, TKYO.X and JKH were the top three shares to lead foreign inflow while UBC, MELS and DIST were the three counters recording the largest foreign outflow.