• Fri. May 17th, 2024

Market struggles as economic fear persists on DDR

Bourse extended dull sentiment, down marginally as investors continued to remain on the sidelines over rising concerns over Domestic Debt Restructuring (DDR) and waiting for a clear direction on the interest rates, First Capital Research said.

The All Share Price Index (ASPI) witnessed a bullish trend during the early hours of trading and displayed significant volatility throughout the session before closing the day at 8,892, losing 22 points where blue-chip counters majorly dragged the index down further.

Besides, overall activities continued to slow down as investors expected poor results from the upcoming quarterly results.

Meanwhile, turnover was recorded lowest during the week at Rs.415.3 million remaining below 55% cf. monthly average turnover of Rs. 926.5million whilst the Energy sector (mainly LIOC) solely contributed 41% to the overall turnover. Foreign investors remained net buyers with low participation recording a net foreign inflow of Rs.16.6 million led by HNB, DIAL, and LIOC.

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