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Consumer services and F&B sectors in market limelight

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The market exhibited a sideways yet volatile trend, ultimately closing flat at 11,357. Notably, HAYL emerged as a prominent contributor to the index, buoyed by expectations of improved earnings stemming from easing finance costs and heightened profitability, which drew significant investor interest amid declining interest rates.

Moreover, retail investors displayed interest for shares in the Food, Beverage, and Tobacco sectors, with GRAN and DIST leading the charge. The consumer services sector also made a positive impact on the ASPI, with AHPL taking the lead among gainers, largely driven by optimistic expectations for strong results in the forthcoming quarter. Despite these pockets of activity, overall market participation remained subdued, resulting in a turnover of LKR 1.5Bn, which is 47.4% lower than the monthly average turnover of LKR 3.0Bn. It is noteworthy that the Food, Beverage & Tobacco sector and the Capital Goods sector collectively contributed 52% to the total market turnover.

JKH and DIST led the overall turnover while JKH contributed LKR 308.9Mn (20%) and DIST contributed LKR 135.2Mn (9%). Meanwhile, BIL dominated the market volume with 8.6Mn shares (16%) while SCAP was the second largest contributor with 6.6Mn shares (12%). Overall volume declined compared to the previous session and recorded at 55.1Mn.

First Capital Research

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