Thursday, July 4, 2024 06:20 PM
Sri Lankan stock market rises on sector performance
- Positive trend in consumer discretionary and materials sectors
- Foreign investors net buyers, domestic investors net sellers
- Market turnover decreases despite overall positive sentiment
Image Credits: brecorderToday, the Sri Lankan stock market saw an upward trend driven by consumer discretionary and materials sectors. Despite a decrease in trading volume, foreign investors were net buyers while domestic investors were net sellers. The market will be closed on June 21, with trading set to resume on June 24.
Today, the Sri Lankan stock market experienced an upward trend, primarily fueled by positive performances in the consumer discretionary and materials sectors. Companies like Harischandra Mills Plc and Hunter & Company Plc stood out with modest increases of 0.2% and 0.03% respectively.
Despite the overall positive sentiment, trading activity witnessed a decline, with the volume of shares traded dropping to 46.1 million from the previous session's 150.5 million. The market turnover also decreased to 2.07 billion Sri Lankan rupees ($6.8 million) from 2.72 billion rupees.
Foreign investors played a significant role in today's market, being net buyers with acquisitions amounting to 663.2 million rupees. On the other hand, domestic investors were net sellers, offloading shares worth 1.68 billion rupees.
As a reminder, the Sri Lankan markets will be closed on Friday, June 21, for a holiday. Trading activities are expected to resume on June 24.
Today's market movements in Sri Lanka showcased a positive trend, driven by specific sectors and investor activities. While the trading volume decreased, the market remained buoyant with foreign investors showing interest. As the market prepares for a brief closure, investors will be keen to observe the upcoming trading session for further insights into the market's direction.
