The stock market exhibited a bearish trend driven by Sri Lanka’s inability to reach a consensus on restructuring terms with bondholders while retailer activity remained robust, albeit with decreased participation from HNWIs.
The ASPI concluded at 11,792, marking a decline of 214 points with banking sector stocks such as COMB, SAMP, and HNB, along with blue-chip companies like MELS and LOLC, weighed down the index, overshadowing minimal positive contributions.
Number trades settled at a 18,000 with retailers actively engaging in profit-taking from major banks like COMB, SAMP, and HNB, which had seen price gains in the previous week.
Turnover amounted to LKR 1.5Bn, down 36.4% from the LKR 2.3Bn monthly average, primarily led by the Banking sector (20%) and the Diversified Financials and Food, Beverage and Tobacco sectors, collectively contributing 29%. Foreign investors shifted to a net buying position with a net inflow of LKR 43.1Mn for the day.
Foreign investors shifted to a net buying position with a net inflow of LKR 43.1Mn for the day.
