Bourse continues bullish trend for 7th consecutive day

Bourse continued its bullish trend for the 7th consecutive session, buoyed by a resurgence in overall market sentiment that instilled confidence among retailers. Despite an initial downturn due to selling pressure from UAL and CTC shares reaching their ex-dividend date today, the market immediately rebounded. The index experienced a notable turnaround, as bullish sentiment surged, driven by investor interest in selected banking counters such as SAMP, PABC and HNB and the Food and Beverages sectors.

The positive optimism on the overall market propelled the index to sustain its upward trajectory, closing for the day at 11,175, with a gain of 50 points. Although the retail participation slightly remained lower compared to the previous day, turnover remained above LKR 1Bn mark and recorded at LKR 1.4Bn during the day, driven by high net worth andinstitutional investors’ participation through off-board transactions, contributing 7% to the market turnover.

Foreign investors remained net sellers recording a net foreign outflow of LKR 28.Mn, amidst low participation. First Capital Research

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