“Market weakens as geopolitical concerns weigh on investor sentiment”

The uncertain global geopolitical environment and the mixed investor sentiment weighed on the market today. The ASPI decreased by 85 points, settled at 22,550, while S&P SL20 closed at 6,208 after losing 33 points.

“DIAL, JKH, COMB, CCS and MELS emerged as the top negative contributors to the ASPI,” said First Capital Research.

HNW investor participation was observed at an elevated level as crossings accounted for 26% of daily turnover.

Retail investor participation was observed at an average level. Daily turnover stood at LKR 3.4Bn, marking a decrease of 4.0% over the monthly average of LKR 3.6Bn.

Capital Goods sector led the daily turnover with a share of 29%, followed by the Food Beverage & Tobacco, and Diversified Financials sectors collectively contributing 40%. Foreign investors remained net sellers, posting a net outflow of LKR 75.0Mn.