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‘Foreign buying on EXPO dominates market turnover’

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Bourse continued its downward momentum yet another day as sizable selling pressure was witnessed on index heavyweights including LIOC and BIL, as investors urged to collect profits.

As a result, the index fell lower and traded in the negative zone till the end of the session to close the day at 8,509 losing 118 points. Despite a drop, turnover improved to LKR 2.8 Bn (+22% cf. monthly average turnover of LKR 2.3 Bn) which was largely led by the Transportation sector with a contribution of 50% as foreign buying of LKR 1.1 Bn was enticed on EXPO during the day.

Energy sector (mainly LIOC) and Capital Goods sectors continued to lead the turnover with a contribution of 14% and 8%, respectively.

Foreign participation remained healthy and recorded a net foreign inflow of LKR 1.2 Bn, supported by off-board transactions of EXPO.

Courtesy First Capital Research


Wednesday, December 21, 2022 – 01:00

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