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“ASPI settles in green; recovers earlier losses”

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Commencing the week, ASPI reverted to the green zone while recording the highest intraday gain in 1 ½-month boosted by the speculation on India likely to support Sri Lanka’s debt restructuring plan which provided the confidence of finalizing the IMF program in the 1Q2023.

In response to that, investor interest was witnessed in Banking counters while retailers pounced on battered stocks (mainly EXPO and LIOC) after a steep fall during the past few days. Accordingly, the index started on a solid footing and continued to move up and closed the day on a positive note at 8,376, gaining 114 points.

Turnover recorded at LKR 1.2Bn (-42% cf. monthly average turnover of LKR 2.1Bn) was continued to dominate by Insurance sectors with a contribution of 34% as retail selling was witnessed on Softlogic companies (AAIC and SCAP) during the day.

SCAP and AAIC continued to dominate the overall turnover while SCAP contributed LKR 246.1 Mn (20%), while AAIC contributed LKR 168.2Mn (13%).

Foreign investors turned to net sellers while displaying low participation and recorded a net foreign outflow of LKR 41.7Mn. Accordingly, BIL, SIRA and DIAL were the top three shares to lead foreign inflow while LOFC, MBSL and HAYL were the three counters recording the largest foreign outflow. Courtesy First Capital Research


Wednesday, January 18, 2023 – 01:00

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