Index falters as diversified financials and capital goods sectors dive low

Bourse slipped marginally down for the second consecutive day as Diversified Financials counters (mainly LOLC) and Capital Goods sector counters closed lower with profit booking. Index spiked slightly higher during the initial hour of the session as investors collected on banking and treasury counters anticipating an IMF bailout soon. However, the index began to plunge down into an hour from the opening with market participants selling on LOLC and closed in red at 8,865 with a marginal loss of 25 points.

Meanwhile, market turnover slightly improved compared to the previous session and recorded at LKR 1.7Bn (-8% cf. monthly average turnover of LKR 1.9Bn) led by a joint contribution of 37% from the Capital Goods sector (19%) and Insurance sector (18%). Courtesy First Capital Research