‘Bullish sentiment slows down as investors take sidelines’

Bourse closed broadly flat during today’s session as the buying spree slowed down while investors took sidelines waiting for quarter results of companies.

As the market opened, index moved on a steep decline hitting an intraday low of 8,891 as market participants booked profits after persistent rise in stock prices. However, by mid-day index gradually recovered, led by LOLC and LIOC yet failed to recoup losses and closed in red with a narrow loss of 12 points. LOLC recorded the highest positive contribution to ASPI following its disclosure on divesting shares of AGST.

Meanwhile, Softlogic company counters continued to witness gains during the day. Moreover, market turnover declined compared to the previous session and recorded at LKR 1.2Bn (-32% cf. monthly average turnover of LKR 1.8Bn) while Insurance sector along with the Energy sector dominated overall turnover with a joint contribution of 45%.(First Capital Research)

 

by Daily News Sri Lanka

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