ASPI closes at 3 ½ month high; crosses 9,000 level

Index continued to thrive in the green for the third straight session while closing at a 3 ½ -month high as the ASPI surpassed the 9,000 psychological level.

Index opened on a solid footing and gradually climbed high reaching an intraday high of 9,077 as investors rallied largely on blue chip counters. ASPI continued to remain high through the rest of the session on the back of positive investor sentiment and closed for the day at 9,022 gaining 72 points where the index surpassed the 9,000 level for the first time after 14th Oct-22. Moreover, market turnover displayed an improvement compared to the previous sessions and recorded at LKR 1.8Bn falling marginally lower by 2% relative to the monthly average turnover of LKR 1.8Bn.

LIOC and JKH led overall turnover while LIOC contributed LKR 277.1Mn (15%), while JKH contributed LKR 238.0Mn (13%). Meanwhile, SCAP continued to dominate the market volume with 8.0Mn shares (12%) while ABL recorded the second largest volume of 6.6Mn shares (10%).

Foreign investors remained net buyers for the fourth consecutive day displaying healthy participation and recorded a net foreign inflow of LKR 203.8 Mn.

Courtesy First Capital Research