Bourse commenced the week on a positive note and continued to see strength for the second consecutive day as investors speculate interest rates to continue to fall in line with inflation in the upcoming months.
As the investor sentiment improved, ASPI scaled high in the beginning and continued to climb higher while recording an index high of nearly 2-weeks and closed the day at 8,310, gaining 162 points.
Moreover, bullish sentiment continued on EXPO since last week following the announcement of a possible acquisition of logistic companies. In addition to that, BIL, LOLC, MELS and LIOC positively contributed to the ASPI hike.
Market turnover significantly improved to LKR 2.5 Bn (+87% cf. monthly average turnover of LKR 1.3 Bn) was largely led by the Transportation sector (mainly EXPO) with a sole contribution of 46%, followed by the Energy sector (mainly LIOC) and Food, Beverage and Tobacco sector which contributed 15% and 13%, respectively.
Meanwhile, the total market volume also displayed a substantial improvement of 77.2 Mn after 5 ½ -weeks amidst improved retail participation.
EXPO, LIOC and BIL were reported as the top contributors to the market turnover with a contribution of LKR 1.1 Bn, LKR 0.4 Bn and LKR 0.2 Bn, respectively.
Meanwhile, BIL, EXPO, and SEMB were included among the top volume contributors.
Top gainers for the day were HNBF.X (+23.8%), OFEQ (+22.9%), BIL (+19.6%), BRWN (+18.0%) and JETS (+17.7%), while the top losers were SEMB.X (-33.3%), CABO (-16.0%), RFL (-11.7%), ATLL (-10.6%), and HARI (-7.0%).
Foreign investors continued to display dull sentiment and remained net sellers (Outflow of LKR 0.15 Mn) for the third consecutive day where LDEV and WATA recorded the top highest foreign outflow while LWL and SUN recorded the top highest foreign inflow.
(Courtesy First Capital Holdings PLC)