‘Index dives low over profit booking’

Bourse reversed to red during today’s session as investors settled to book profits on Capital Goods and treasury counters following the sizable gains witnessed over the past week.

Index displayed slight volatility during the session with ASPI sliding down to an intra-day low of 8,816. Subsequently, the index continued to show a recovery but failed to hold in the green as investors take profits on retail favourites to close the day at 8,832 losing 31 points.

Meanwhile, market turnover declined by 17% relative to the previous session and recorded at LKR 1.3Bn (-33% cf. monthly average turnover of LKR 2 billion) with low participation from investors as the holiday season approached.

Moreover, Diversified financial sector continued to top overall turnover with a contribution of 21%, followed by the Food, Beverage and Tobacco sector which contributed 17%.

(Courtesy First Capital Research)