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Index reverts to red amid poor turnover

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Bourse regressed to the red zone as both indices took a dip with investor sentiment hampered over the proposed electricity tariff hike by 65% and its negative impact on the corporates with effect from Jan-2023. Although ASPI scaled high during the initial hours of trading, subsequently the index continued to plummet as investors booked profits in Capital Goods sector counters such as JKH and RICH. Accordingly, the index closed in red at 8,411 losing 41 points with SAMP dragging down the index largely.

Meanwhile, turnover hit a 1 ½ – month low of LKR 856.1Mn, recording 67% below the monthly average turnover of LKR 2.6Bn. Energy sector along with the Insurance sector dominated overall turnover with a joint contribution of 47%. Further, the transportation sector contributed 11% to the overall turnover.

LIOC and AAIC dominated the overall turnover with LIOC contributing LKR 254.3Mn (30%), while AAIC contributed LKR 100.7Mn (12%). Meanwhile, SEMB.X continued to record the largest volume of 13.2Mn shares (27%) whilst retail participation continued to dominate on BIL and traded 4.9Mn shares (10%).

Courtesy First Capital Research

 

Thursday, December 29, 2022 – 01:00











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