“ASPI and turnover rise over hefty collection on HAYL” | Daily News

“ASPI and turnover rise over hefty collection on HAYL”

ASPI extended the positive sentiment for the third consecutive day after the president’s comments at the parliament on the progression of the debt restructuring talks with India and China, and optimistic view that the IMF board level agreement may be signed in 1Q2023.  

Accordingly, active investor participation was witnessed on Banking sector counters and index heavyweights. After yields recording a steep decline during the yesterday’s auction, treasury counters commenced the day on a bullish trend, yet profit taking was witnessed on CALT and FCT towards the end of the session after continuous gains during the previous sessions.  

Index continued to rise high, reaching an intraday high of 8,566 before closing the day at 8,485, gaining 99 points. Meanwhile, HAYL contributed largely to the ASPI hike as active collection was reactivated after being heavily beaten down during the past few weeks over adverse tax impacts. 

Turnover also improved to LKR 1.9 Bn (-7% cf. monthly average turnover of LKR 2.0Bn) was largely led by the Capital goods sector (mainly HAYL) and Diversified Financials sector with a contribution of 30% and 24%, respectively.  

HAYL and JKH led overall turnover while HAYL contributed LKR 262.2Mn (14%), while JKH contributed LKR 183.4Mn (10%). Meanwhile, ASPH dominated the market volume with 25.6Mn shares (26%) while, SCAP recorded the second largest volume of 11.6 Mn share (12%) Overall volume displayed a rebound compared to the previous session and recorded at 98.2Mn.  

Top gainers for the day were CFI (+15%), BRR (+11%), LUMX (+10%), HAYL (+10%) and MBSL (+10%). Meanwhile, top losers for the day were LPRT (-17%), MHDL (-9%), TESS (- 8%), LPL (-8%) and BERU (-8%).  

Foreign investors remained net buyers for the second day while displaying low participation and recorded a net foreign inflow of LKR 69.1Mn. Accordingly, JKH, MELS and LIOC were the top three shares to lead foreign inflow while TILE, BIL and SAMP were the three counters recording the largest foreign outflow.  

Courtesy First Capital Research

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