The Broad Market maintained bullish momentum, extending the positive sentiment from the previous week’s close, primarily driven by gains in the banking sector and blue-chip stocks.
The benchmark index, ASPI, touched a 33-month high, closing the day at 12,875, gaining 75 points. Additionally, construction sector counters like LALU and ACL coupled with the food, beverage & tobacco sector counters such as WATA and SUN witnessed increased buying interest during today’s trading session.
Moreover, the rise in global palm oil prices boosted sentiment towards WATA, leading to a 3.2% increase in share price today, with expectations of further price gains.
Meanwhile, amidst multiple crossings, turnover increased by 19% compared to the previous session’s turnover, reaching Rs 2.4 billion.
However, this marked a 14.1% decrease from the monthly average standing at Rs 2.8 billion.
Moreover, the banking sector led the turnover by 42%, followed by the food, beverage, tobacco and Capital Goods sectors jointly contributing 31% of the overall turnover.
Foreign investors remained net sellers with a net outflow of Rs 23.3 million. (First Capital Research)
The post ASPI hits 33-month high appeared first on DailyNews.