Building on yesterday’s momentum, the Colombo Bourse continued its upward trend during the first few hours of today’s trading session.

However, rising oil prices weighed on investor sentiment in the latter half of the session, triggering selling pressure.

Accordingly, the Colombo Bourse failed to sustain its two-day winning streak, with the ASPI declining by 18 points to close at 21,067, while the S&P SL20 fell by 5 points to close at 5,943. 

Amidst subdued activity and trading volumes, daily turnover stood at LKR 1.3Bn, 43.0% below the monthly average turnover of LKR 2.3Bn. However, HNW investors accounted for the majority of the turnover, driven by a few on-board and off-board transactions. Materials sector led the daily turnover with a share of 19%, followed by the Capital Goods, and Transportation sectors collectively contributing 37%. Foreign investors remained net sellers, posting a net outflow of LKR 162.4Mn.

-First Capital Research-