ASPI reverts back into red zone

Bourse closed in the red yesterday, reverting back to its previous downward trend following the index’s one off gain during the last session.

Once again high selling was observed largely on blue chip and banking counters, and thereby were also the largest negative contributors to the index which closed at 10,297, a 38 point drop from last session.

Further, today saw a large selling on EXPO throughout the day, following the release of their quarterly results which showed a 272.6% drop in YoY earnings recording a large loss of LKR 5.2Bn.

Turnover was recorded at LKR 590.6Mn 16% lower than the average monthly turnover of LKR 706.2Mn. Foreign investors remained net sellers with a marginal net foreign outflow of LKR 3.5Mn. JKH and EXPO led the overall turnover while JKH contributed LKR 138.5Mn (23%) and EXPO contributed LKR 85.8Mn (15%). Meanwhile, BIL dominated the market volume with 4.7Mn shares (18%) while DIAL was the second largest contributor with 4.3Mn shares (17%). Overall volume decreased to 25.89Mn.

Foreign investors remained net sellers recording a net foreign outflow of LKR 3.5Mn, amidst moderate participation. Accordingly, TKYO.X, JKH and MGT were the top three shares to lead foreign inflow while EXPO, HNB and MELS were the three counters recording the largest foreign outflow.

First Capital Research   

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