Bourse reverted to green after profit taking during yesterday’s session following the outcome of the CBSL policy review meeting. Index dipped shortly into the market opening with investors reacting to policy rates being maintained at their current levels while profit taking continued on treasury counters.
Subsequently, investors bought into LIOC shares following the healthy results of the company which reversed the ASPI momentum. Meanwhile, CBSL signalled inflation would decline further in the coming months further strengthening investor sentiment. Eventually, the index recouped losses made during the day and closed in green at 8,938 gaining 36 points led by the contribution from LOLC and LIOC.
Turnover improved compared to the last session and recorded at LKR 2.0Bn (+11% cf. monthly average turnover of LKR 1.8Bn) with a sole contribution of 42% from the Materials sector mainly led by the 8% stake change of AGST at LKR 15.00 per share. Diversified Financials and Energy sectors contributed 13% and 11%, respectively to the overall turnover.
AGST, LIOC and MELS led overall turnover while AGST contributed LKR 748.9Mn (38%), while LIOC and MELS contributed LKR 219.8Mn (11%) and LKR 131.7Mn (7%), respectively.
Accordingly, AGST dominated the market volume with 49.0Mn shares (53%) while LOFC recorded the second largest volume of 6.2Mn shares (7%) Overall volume displayed an improvement compared to the previous session and recorded at 91.7Mn. Top gainers for the day were TESS (+9%), BERU (+8%), CINV (+6%), COCR (+6%) and LIOC (+6%). Meanwhile, top losers for the day were RGEM (-11%), GEST (-11%), HUNA (-8%), MHDL (-6%) and CIND (-5%).
Foreign investors turned net sellers after 5-days of continuous buying amidst moderate participation and recorded a net foreign outflow of LKR 71.1Mn. Accordingly, LIOC, JKH and BOPL were the top three shares to lead foreign inflow while MELS, TILE and WAPO were the three counters recording the largest foreign outflow.
First Capital Research
by Daily News Sri Lanka
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