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Bullish sentiment pushes up ASPI to near 3-month high

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Bourse continued its upward trajectory for the third consecutive day, driven by growing retailer confidence amid easing uncertainties. Notably, selected banking counters including COMB, DFC and NDB saw active collection as investors started bargain hunting following previous price declines.

Consequently, the index started on a solid note and maintained its steep ascent, reaching an intraday high of 10,878 before closing the day at a near 3-month high of 10,842, gaining 36 points.

Moreover, retail interest was also noted on LIOC following the announcement of unchanged prices for Auto Diesel and Petrol 92.

Turnover for the day stood at LKR 1.5 Bn, with significant contributions from the Capital Goods and Banking sectors, accounting for a joint contribution of 38%. Furthermore, DPL witnessed a stake change of c. 3.3% through an off-board transaction, totaling 5.4 Mn shares at LKR 28.00 each.

DPL and LMF led the overall turnover while DPL contributed LKR 159.3 Mn (11%) and LMF contributed LKR 147.1 Mn (10%).

Meanwhile, SEMB dominated the market volume with 12.3 Mn shares (17%) while LMF was the second largest contributor with 5.9 Mn shares (8%). Overall volume decreased to 73.8 Mn.

Foreign investors remained net sellers recording a net foreign outflow of LKR 90.5 Mn, amidst low participation. (First Capital Research.)

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