YTD net foreign inflow surpasses Rs. 3.5 Bn

Bourse continued to settle firmly in the green zone trading positively throughout the day on the back of active collection witnessed on Banking sector counters as HNB and COMB remained the top contributors to the ASPI. Index surged by 96 points in the beginning yet remained volatile afterwards as mixed sentiment was observed during the day as investors took a wait and see approach ahead of the mass protest following the trade union protest against the tax hike.

Moreover, retail participation was witnessed on GLAS and TKYO as the government decided to settle the pending due to the construction counters. With the slight improvement in the retail participation, turnover marginally improved to LKR 1.6Bn compared to the previous session (-19% cf. monthly average turnover of LKR 2.0Bn) and was largely led by Capital Goods, Materials and Banking sectors with a contribution of 25%, 21% and 21%, respectively. Meanwhile, YTD net foreign inflow surpassed LKR 3.5Bn amidst the significant foreign interest witnessed on JKH and HNB.

Courtesy First Capital Research