Colombo Bourse recovers on discount-driven buying
Summary
Colombo Bourse recorded a modest upward movement, supported by the stabilization in global crude oil prices. Following the previous session’s decline, investors capitalized on attractive valuations, engaging in bargain hunting and driving a measured recovery in market sentiment. The ASPI […]
Colombo Bourse recorded a modest upward movement, supported by the stabilization in global crude oil prices. Following the previous session’s decline, investors capitalized on attractive valuations, engaging in bargain hunting and driving a measured recovery in market sentiment. The ASPI moved up by 223 points, closing at 20,641, while S&P SL20 Index closed at 5,766, up by 5 points. Market breadth turned positive as 179 counters moved up during the session, led by DOCK, RIL, AEL, MELS and ACL.
Retail participation remained moderate, while HNW investor activity was elevated, driven by attractive valuations following the previous session’s decline. Activity was primarily concentrated in Banking sector counters, led by crossings in HNB amounting to LKR 607.7Mn, accounting for 11.5% of the day’s turnover. Daily turnover stood at LKR 5.3Bn, marking an increase of 3.9% over the monthly average of LKR 5.1Bn. Banking sector led the daily turnover with a share of 34%, followed by the Capital Goods, and Food Beverage & Tobacco sectors collectively contributing 35%. Foreign investors remained net sellers, posting a net outflow of LKR 191.2Mn. First Capital Research
Source : Daily News