• Wed. Jul 10th, 2024

CSE extends the bullish run amidst active participation

The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) extended the positive sentiment for the fourth consecutive day as investors continued to actively participate in the market. As the market gained over 450 points during the past few days, profit-taking was witnessed across the board, prompting a marginal fall of the index at the early hours of trading, First Capital Research said in its daily market report.

However, with the active collection on the blue-chip companies, market recovered the earlier losses and closed the day at 9,146, gaining 64 points. As the secondary bond market yields fell sharply (up to 100bps compared to the previous week,) Treasury counters continued to see a bullish sentiment. Meanwhile, turnover surged to 2 ½-week high (+29% cf. monthly average turnover of LKR 1.9Bn) and was largely led by Capital Goods (mainly JKH) and Food, Beverage & Tobacco sectors with a contribution of 36% and 16%, respectively. However, foreign investors remained net sellers and recorded the largest net outflow of LKR 478Mn in the year mainly led by JKH.

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