Market sheds another 352 points | Daily News

Market sheds another 352 points

The All Share Price Index (ASPI) has shed another 300 points in yesterday’s trading. The market had for the second consecutive day been halted due to a sharp drop in trading prices.

Further,broader market’s total turnover stood at LKR1,353.2mn (USD6,754.1k) against the 12-month average daily turnover of LKR3,114.1mn (USD15,543.5k), whilst the volume traded for the day was 63,473.6k against the 12-month average daily volume of 173,687.1k.Banking,Capital Goods andMaterialswere the main sectors that contributed to the daily turnover.

The ASPI fell to 9,294 losing over 3.66% of value with S&P SL20 shedding 141 points or 4.25% of value. The drop in the index was largely driven by ExpoLanka, LOLC, and Hayleys and related companies.

Negative sentiment was driven by the failure of recent T Bond auctions to raise any long term funds for the government on agreeable terms to both parties. Over 111 companies are at their 52 week low with another 26 companies nearing that figure.

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