Market on bearish trend amidst DDO concerns

The overall market was on a downward trend during the day, as it closed at 9,369, losing 65 points.

Profit-taking was visible on the banking and diversified financial counters, whilst LIOC positively contributed to the index and gained some traction ahead of future price revisions.

Furthermore, a profit-taking stance was seen on the banking sector counters during the day due to concerns pertaining to the DDO which is expected to take place during the coming days.

Meanwhile, market turnover recorded at USD 1.4Bn, 14.8% more than the monthly average turnover of LKR 1.3Bn, aided by multiple crossings including SAMP and JKH.

First Capital Research