The Colombo Stock Market has rebounded significantly, reaching a turnover of Rs. 4.3 billion, a 260.4% increase from the monthly average, following the election of President Anura Kumara Dissanayake. The All Share Price Index (ASPI) rose by 0.10% to close at 11,671.87, while the S&P SL20 Index advanced by 0.50% to end at 3,384.29.
Key Drivers:
- Investor Confidence Restored: Market sentiment turned positive as investor confidence surged following the clarity brought by the presidential election results.
- Bullish Sentiment: First Capital Research noted a bullish trend throughout the week, driven by the newly elected President’s policies and investor optimism.
- Sector Contributions: The Banking sector contributed 39% of the total turnover, while the Real Estate and Capital Goods sectors jointly accounted for 23%.
The resurgence in market activity and the substantial increase in turnover reflect the renewed confidence in Sri Lanka’s economic direction under the new administration.
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Last modified: September 27, 2024
