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Bourse gain steam breaking 5-day losing streak

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The bourse witnessed resurgence after weathering 5 consecutive days of losses, closing the day on a positive note at 10,818, marking a gain of 143 points.

Market sentiment received a significant boost as news broke about the preliminary debt agreement between the Exim Bank of China and Sri Lanka, prompting increased activity on shares across the board.

Notably, as rates eased during today’s bond auction, interest in treasury shares grew. In the wake of foreign selling observed in recent sessions, renewed interest materialized in the banking sector, notably in shares of HNB, SAMP, and DFCC.

Meanwhile, the market turnover reached LKR 999.4 Mn, 1.5% higher than the monthly average turnover of LKR 985.0Mn, whilst the Diversified Financial sector and Capital Goods sector jointly contributed 65% to the overall turnover. JKH and FCT led the overall turnover while JKH contributed LKR 240.0Mn (24%) and FCT contributed LKR 147.8Mn (15%). Meanwhile, FCT dominated the market volume with 3.6Mn shares (12%) while RAL was the second largest contributor with 2.7Mn shares (9%). Overall volume decreased sharply compared to the previous session and recorded at 29.1Mn.

Foreign investors remained net buyers amidst low participation recording a net foreign inflow of LKR 3.6Mn. Accordingly, JKH, NTB and VONE were the top three shares to lead foreign inflow while NDB, CALT and SAMP were the three counters recording the largest foreign outflow. First Capital Research

The post Bourse gain steam breaking 5-day losing streak appeared first on DailyNews.

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