• Sat. May 18th, 2024

CSE on a slim recovery as buying interest improves

Colombo Bourse closed in green after two days of losses as buying sentiment slightly improved on index-heavy weights and banking counters, but retail participation continued to remain subdued with investors being sidelined owing to the lingering political uncertainty with protests taking place, First Capital Research said in its Daily Market Report.

All Share Price Index (ASPI) surged sharply as the market commenced and reached an intraday high of 9,273. Subsequently, ASPI edged low and moved broadly stable with investor interest continuing to be observed on LIOC following the opening of new sheds while Hotel sector counter witnessed positive activities too. On that note, index slightly recouped losses and turned to the green at 9,223 gaining 34 points. However, activities took a dull turn on treasury counters as investors took a wait-and-see approach ahead of the monetary policy review meeting that is scheduled for 3rd March, Friday. Market turnover slid low and recorded at Rs.1.3Bn (-31% cf. monthly average turnover of Rs.1.9Bn) dominated by the Energy sector (20%) and Food, Beverage and Tobacco sector (16%).      

By Author

Leave a Reply

Your email address will not be published. Required fields are marked *