Index slides over weak retail activities

Bourse continued its downward trend for yet another day as selling pressure mounted with poor reported results which was affected by tax spooked investor confidence.

As a result, volumes continued to remain thin as investors remained on the sidelines waiting for the prices to correct, affected by poor results.

Index continued to plunge and was further pulled down by EXPO as negative sentiment was triggered following the Drewry’s World Container index contracts below USD 2,000 per feu for the first time since Jul 2020.

Accordingly, the index traded negatively throughout the day and closed at 8,791, losing 148 points. As retail activities continued to remain low, turnover skid to LKR 1.3Bn. Courtesy FC Research