Bourse recovers from 12 consecutive losses

The broad market recovered from 12 consecutive losses as HNW investors displayed renewed buying interest buoyed by improved investor sentiment during the trading session.

Despite low retail participation, ASPI started the day on a steady note and experienced a long-lived uptrend during the day, to close the session at 10, 837 gaining 164 points.

The banking sector counters and index heavy weights including COMB, SAMP, MELS, CTC and HAYL emerged as the top positive contributors to the index. Meanwhile, turnover was recorded at LKR 1.5Bn, 104.0% higher than the monthly average of LKR 717.3Mn with multiple crossings accounting for 21.3% of the overall turnover.

The banking sector contributed 42% to the overall turnover whilst Capital Goods and Food, Beverage and Tobacco sectors jointly contributed 38%. Foreign investors turned net sellers, recording an outflow of LKR 68.2Mn amidst low participation.

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