“Market turnover soars to near 2-month high”

The bourse maintained its winning momentum, notching up its 4th consecutive day of gains, as the bullish brigade charged ahead and settled at 11,479, making a gain of 35 points during the day.

The banking counters, comprising HNB, DFCC, and NDB, took the lead as the top 3 positive contributors shaping the index’s trajectory for the day, while blue-chip favorites including HAYL and MELS also left their mark among the top contributors of the day.

Moreover, the hotel sector, led by AHPL, witnessed investor interest during the day, as tourist arrivals surpassed 600,000 in 1Q-2024. Additionally, the diversified financial sector counter, CALT, also garnered investor interest throughout the day, fueled by expectations of dividends following CFVF’s dividend announcement. Meanwhile, the market turnover soared to a near 2-month peak, hitting LKR 4.1Bn, a 125.7% surge over the monthly average of LKR 1.8Bn. The Consumer Durables, Consumer Services, and Banking sectors combined forces to drive a significant 77% of the market turnover.

First Capital Research

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