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ASPI closes in negative territory

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ASPI closed in the negative territory for the 5th consecutive session as macro-economic worries outweighed the investor sentiment, despite EXIM bank of China agreeing tentatively on Sri Lanka’s debt treatment. Accordingly, Index moved on a downward trajectory throughout the session and closed in the red zone at 10,675 losing 142 points.

However, treasury related counters attracted sizeable interest during the day following the LKR 10.0 dividend announcement from FCT while anticipations for decline in rates at today’s T-Bill auction further bolstered buying on treasury counters.

Meanwhile, foreign selling on selected banking counters was observed for the second continuous session despite foreign investors recording a net buying for the day. First Capital Research

On the flip side, turnover improved and recorded at a 2-week high of LKR 1.3Bn (+30% cf. monthly average turnover of LKR 971.0Mn) solely led by a 51% contribution from the Diversified Financials sector. FCT and CFVF led the overall turnover while FCT contributed LKR 385.9Mn (31%) and CFVF contributed LKR 138.1Mn (11%). Meanwhile, ABL.R dominated the market volume with 187.1Mn shares (80%) while FCT was the second largest contributor with 9.5Mn shares (4%).

Overall volume increased sharply compared to the previous session and recorded at 233.3Mn. Foreign investors turned net buyers amidst low participation recording a net foreign inflow of LKR 10 Mn. Accordingly, RICH, MGT and LALU were the top three shares to lead foreign inflow while EXPO, NDB and SCAP were the three counters recording the largest foreign outflow.

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