The Colombo Bourse extended its upward momentum today, with both indices recording substantial gains amid heightened investor optimism.

Sentiment was further supported by positive developments surrounding the US midterm elections and global oil prices falling below the USD 100.0 per barrel mark, easing concerns over inflationary pressures.

The ASPI surged 589 points to close at 21,130, marking the largest single-day point gain within the recent months, while the S&P SL20 gained 195 points to close at 6,030.

Both retail and HNW participation remained elevated, with both investor segments contributing almost equally to market turnover. Market activity witnessed a substantial increase, with turnover reaching its highest level since August, signaling a significant resurgence in investor participation and confidence.

Daily turnover stood at LKR 5.4Bn, marking an increase of 257.1% over the monthly average of LKR 1.5Bn. Banking sector led the daily turnover with a share of 20%, followed by the Materials, and Capital Goods sectors collectively contributing 30%. Foreign investors remained net sellers, posting a net outflow of LKR 227.9Mn. 

-First Capital Research-