CSE begins year on optimistic note | Daily News

CSE begins year on optimistic note

Bourse commenced the year on a positive note with a marginal gain as buying interest was enticed on the Softlogic group and treasury shares, on the back of the signals issued by the CBSL governor indicating possible easing off interest rates.

Meanwhile, the sentiment was further bolstered by the fall in inflation to 57.2% in December from 61% in November-22. Accordingly, index opened on an upbeat note and continued to remain high and closed the day at 8,510, gaining 20 points.

Meanwhile, turnover continued to remain at Rs 1.9 Bn (-23% cf. monthly average turnover of LKR 2.4 Bn) and was largely led by the insurance sector (mainly AAIC and SCAP) with a contribution of 46%, followed by Materials and Diversified Financials sectors which jointly contributed 27%.

Softlogic companies such as AAIC and SCAP continued to dominate overall turnover for the third day with SCAP contributing LKR 515.1 Mn (28%), while AAIC contributed LKR 281.6 Mn (15%). Accordingly, SCAP recorded the largest volume of 45.6 Mn shares (35%) whilst 16.Mn shares were traded in AGST which was largely led by off-board transaction. Meanwhile, volume continued to remain high and recorded at 130.9 Mn remaining 24% above the monthly average volume.

Foreign investors remained net sellers for the third day,displaying less participation while recording a net foreign outflow of LKR 67.9 Mn. Courtesy First Capital Research

Add new comment