Bourse continued its downward momentum yet another day as sizable selling pressure was witnessed on index heavyweights including LIOC and BIL, as investors urged to collect profits.
As a result, the index fell lower and traded in the negative zone till the end of the session to close the day at 8,509 losing 118 points. Despite a drop, turnover improved to LKR 2.8 Bn (+22% cf. monthly average turnover of LKR 2.3 Bn) which was largely led by the Transportation sector with a contribution of 50% as foreign buying of LKR 1.1 Bn was enticed on EXPO during the day.
Energy sector (mainly LIOC) and Capital Goods sectors continued to lead the turnover with a contribution of 14% and 8%, respectively.
Foreign participation remained healthy and recorded a net foreign inflow of LKR 1.2 Bn, supported by off-board transactions of EXPO.
Courtesy First Capital Research