“ASPI inches lower yet foreign inflow on JKH persists”

ASPI inched down while displaying low retail participation as investors awaited for direction on the macroeconomic front as CBSL accepted LKR 54.0Bn bills from offered LKR 100.0Bn as with yields remaining unchanged. Index traded on a positive note in the beginning as investor interest reactivated on Hotel sector counters on the back of soaring tourist arrivals.

However, profit-taking on Banking sector and continued sluggish activities on EXPO pulled down the index to close the day at 8,962, losing 25 points.

However, turnover marginally improved to LKR 1.2Bn compared to the previous session which was largely led by Capital Goods sector (33%) while the off-board transactions of JAT, JKH and SIGV jointly contributed 17% to the turnover. Accordingly, JAT witnessed a stake change of 0.7% as Janashakthi Capital sold 3.7Mn shares at LKR 14.0 per share. Meanwhile, a 9.8% stake change was witnessed in SIGV totalling to 0.9Mn shares changing hands at LKR 63.00.

Moreover, MTD net foreign inflow surpassed LKR 3.0Bn as foreign investors continued to remain bullish on JKH.

JKH and EXPO led overall turnover while JKH contributed LKR 308.2Mn (25%), while EXPO contributed LKR 102.0Mn (8%). Meanwhile, JAT dominated the market volume with 4.3Mn shares (10%) while SEMB.X recorded the second largest volume of 4.2Mn shares (9%). Overall volume continued to remain low and recorded at 44.6Mn.

Top gainers for the day were HUNT (+19%), JAT (+8%), CWL (+8%), RGEM (+7%) and REEF (+7%). Meanwhile, top losers for the day were RFL (-11%), MULL (-8%), SFIN (-7%), UML (-7%) and LVEN (-6%).

Foreign investors remained net buyers for the 1 ½-week displaying high participation and recorded a net foreign inflow of LKR 275.4Mn. Accordingly, JKH, TJL and SPEN were the top three shares to lead foreign inflow while GHLL, BIL and TILE were the three counters recording the largest foreign outflow.