The market dipped into the red zone following four consecutive sessions of green amidst profit-taking. Both S&P and ASPI indices halted in the red zone, whilst the latter closed the day at 8,746 losing 20 points.
Amongst the top negative contributors, EXPO witnessed selling pressure during the day owing to the decline in global freight rates, which dropped below pre-covid levels. Treasury shares witnessed continued investor interest for yet another day, mainly attributed to the downward revision of policy rates by 250bps and a decline in bond yields.
Meanwhile, market turnover was recorded at LKR 482.2Mn (-30.1% cf. monthly average turnover of LKR 690.2Mn) on the back of limited retail participation as investors remained on the sidelines awaiting for further clarity on the macroeconomic front.
First Capital Research