Home Market Market tumbles as Turnover hits 1-month low

Market tumbles as Turnover hits 1-month low

  • 30 Sep 2022
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ASPI ended the day on a negative note amidst selling in margin accounts. Index displayed significant volatility during the session yet plunged into the red zone towards the end of the day before closing at 9,931, losing 20 points.





However, tapered down buying interest was visible on selected shares as investors slowly collected battered down stocks such as LIOC and Material sector counters while expecting the market trend to reverse with the start of a fresh new month whereas, Transportation (mainly EXPO) and Banking sectors largely pulled down the index during the day.





Turnover was recorded at a 1-month low of LKR 2.6Bn (-38% cf. monthly average turnover of LKR 4.2Bn) as investors remained on the sideline. Meanwhile, Materials and Capital goods sectors continued to lead the market turnover with a joint contribution of 41%.



Secondary market shows slow revival



Following the primary market auctions, secondary bond market witnessed some buying interest amidst high yields, reflecting a slow revival in investor activities as confidence reinstated.



Accordingly, 01.07.25 maturity traded within the range of 31.10%-30.96%. Moreover, 15.01.28 traded within the range of 31.30%-31.20% while 01.07.32 was seen trading at 30.0%. Although activities relatively accelerated, volumes remained thin throughout the session.



Courtesy: First Capital Research

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