Market remains stagnant amid holiday season

Bourse once again ended in the red zone, however with only a marginal 0.4 point drop in the index. Index was quite unstable throughout the session and fluctuated multiple times from red to green but ended relatively unchanged, largely due to low participation amongst investors amidst the holiday season. JKH and CCS were the main positive contributors to the end index whereas CDB and LOLC were the biggest negative contributors.

Today’s session saw a heightened interest in counters in the construction sector such as TKYO and MELS. Market turnover was recorded at LKR 1.1Bn which was 11.9% below the market average of LKR 1.2Bn. However, this turnover was largely influenced by an off-board transaction on LGIL which accounted for 66% of the total turnover whilst retail turnover remained low amidst the holiday season. Foreign investors remained net sellers with a marginal net foreign outflow of LKR 1.3Mn.

Foreign investors remained net sellers recording a net foreign outflow of LKR 1.3Mn, recording low participation.

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