Bourse extended its streak of price gains for the third consecutive session while recording a solid 100 points gain as investors hunted down Banks (mainly HNB, COMB and SAMP) and Diversified financial counters following the price declines witnessed during the previous week. Hence, index started off on a solid footing and maintained its steady upward trajectory throughout the session and hit an intraday high of 11,519 before closing the day at 11,475, gaining 100 points. ASPI was mainly topped by Banks and Blue-chip counters amidst the improved investor appetite, while a sharp rally was witnessed on the Treasury counters ahead of the weekly T-Bill auction scheduled for tomorrow.
In the midst of active retail participation, turnover was recorded at a healthy level of LKR 2.7Bn (-10.3% lower cf. monthly average turnover of LKR 3.0Bn) backed by Diversified Financials and Capital Goods sectors accounting for a joint contribution of 49%. In the midst of the selling spree on JKH, foreign investors remained net sellers during the day yet, YTD net foreign inflow remained above LKR 4 Bn mark.
JKH and CFIN led the overall turnover while JKH contributed LKR 389.4Bn (14%) and CFIN contributed LKR 285.8Mn (11%). Meanwhile, BIL dominated the market volume with 5.3Mn shares (7%) while SEMB.X was the second largest contributor with 5.2Mn shares (7%). Overall volume declined compared to the previous session and recorded at 75.12Mn.
Top gainers for the day were PMB (+10%), AMF (+9%), TKYO (+8%), LPRT (+7%) and GUAR (+6%).
Meanwhile, the top losers for the day were CPRT (-13%), LAMB (-11%), TESS (-9%), REG (-9%) and HNBF.X (-7%). Foreign investors remained net sellers amidst low participation recording a net foreign outflow of LKR 85.4Mn. Accordingly, COMB, CIC.X and ACL were the top three shares to lead foreign inflow while JKH, HHL and CINS.X were the three counters recording the largest foreign outflow. First Capital Research
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