Bourse closed the week on a positive note while recording an intraday gain of 156 points and a 1 ½-month high turnover of LKR 4.2Bn. Optimistic Investor sentiment was largely on the back of progression of debt restructuring negotiations, as the Paris Club agreed to provide financing assurances to the country and Sri Lanka’s bondholders prepared to engage in debt restructuring talks with the authorities. Accordingly, index started on a solid footing and continued to surge high as investor interest continued on Banking sector counters and index heavyweights which led the market to close the week at 9,179, gaining 156 points.
Turnover substantially improved to LKR 4.2Bn (+127% cf. monthly average turnover of LKR 1.8Bn) where off-board transactions accounted for 42% of the market turnover. NTB. witnessed a stake change of 9.7% via an off-board transaction, totaling to 25.3Mn shares changing hands at LKR 54.00. Accordingly, Banking sector led the market turnover with a contribution of 36%, followed by Capital Goods sector (29%).
NTB and JKH led overall turnover while NTB contributed LKR 1.4Bn (33%), while JKH contributed LKR 829.5Mn (20%). Accordingly, NTB continued to dominate the market volume with 25.4Mn shares (24%) while DIAL recorded the second largest volume of 14.4Mn shares (13%). Overall volume displayed a significant improvement compared to the previous session and recorded at 106.8Mn.
Top gainers for the day were SEMB.X (+33%), GEST (+13%), RPBH (+13%), TESS.X (+11%) and TJL (+9%). Meanwhile, top losers for the day were CALF (-14%), SOY (-10%), MHDL (-6%), RCH (-6%) and LPL (-4%).
Foreign investors remained net buyersfor the fifth consecutive day displaying high participation and recorded a net foreign inflow of LKR 893.4Mn. Accordingly, JKH, TJL and SPENwere the top three shares to lead foreign inflow while DIAL, WAPO and EXPO were the three counters recording the largest foreign outflow.
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