Bourse in green despite high market volatility

The Colombo Bourse experienced yet another volatile trading day as investors booked profits amidst moderate buying interest. The market started the day on a bearish note, reaching an intraday low of 12,035 amidst profit taking.

However, the market gradually recovered after midday as buying interest emerged in selected Banking sector counters, closing the day at 12,164 gaining 12 points. CINS, HAYL, COMB, MGT and SAMP emerged as the top positive contributors to the index. Amidst the moderate participation from both retail and HNW investors, turnover stood at LKR 1.6 Bn, marking a 21.4% decrease from the monthly average standing at LKR 2 Bn.

Furthermore, 37% of the overall turnover was contributed by the Capital Goods sector whilst 35% of the turnover was jointly contributed by the Banking and Food, Beverage & Tobacco sectors. Notably, foreign investors remained net buyers with a net foreign inflow of LKR 267.1Mn on the back of strong foreign buying interest on JKH with a foreign inflow of LKR 132.7 Mn. First Capital Research

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