The All Share Price Index (ASPI) experienced a dip during early trading hours today as investors booked profits, contributing to a modest pullback. While a partial recovery took place post-midday, the ASPI closed at 12,796 points, marking a 59-point decline for the day. Market sentiment leaned negative, particularly in the Banking sector and blue-chip stocks, with MELS, HNB, LOLC, HHL, and COMB being notable contributors to the downturn.
Trading Highlights:
- Turnover Boosted by High Net-Worth Investors: The day’s turnover saw a significant 28% increase from the previous session, totaling LKR 2.4 billion, though this figure remains 15.9% below the monthly average of LKR 2.8 billion.
- Sector-Wise Contribution: The Banking sector led the market with a 60% share of turnover, while the Food, Beverage & Tobacco and Capital Goods sectors collectively added 19% to the day’s trading activity.
- Foreign Investor Activity: Foreign investors turned net buyers with a net inflow of LKR 15.8 million, reflecting increased interest in local assets.
The dip in ASPI underscores a profit-booking trend among investors, though improved participation from high-net-worth investors signals continued interest. The banking sector’s strong contribution to turnover aligns with this trend, reflecting the sector’s pivotal role in current trading dynamics.
Last modified: November 6, 2024
