“Riding the wave of yesterday’s bullish surge, the Colombo Bourse charged ahead once more, fueled by a powerful rally in Capital Goods and Blue-chip counters. In the early hours of trading, the market experienced a volatile session marked by notable selling pressure. But the market refused to back down.

In a steady and determined climb, it fought its way back, turning red into green. By the closing bell, the index stood at 21,779, a resounding gain of 102 points, sealing another victorious chapter in its upward march. Participation from HNW investors remained relatively low with moderate participation from retail investors. Additionally, top positive contributors to the index included, DIMO, BUKI, CCS, MELS and WATA.

Turnover for the day stood at LKR 6.3Bn, reflecting a decrease of 12% compared to the monthly average that stands at around LKR 7.1Bn. Food, Beverage & Tobacco sector took the lead in terms of sector wise contributions to turnover, with a share of 20%, followed by the Consumer services and the Capital Goods sectors which produced a combined contribution of 28%. Foreign investors remained net sellers, recording a net outflow of 362.2Mn,” said First Capital Research.

CHOT and DIMO led the overall turnover with CHOT recording a turnover of LKR 510.8Mn (8%) whilst DIMO recorded a turnover of LKR 285.5Mn (5%). CHOT led the market volume with 10.9Mn shares (7%) while KOTA was the second largest contributor with 7.5Mn shares (5%). Overall volumes increased to 154.9Mn.

Foreign investors remained net sellers, posting a net outflow of LKR 362.2Mn. DIMO, SUN and AEL were the top three shares to record foreign outflows, while CHOT, ACL and MELS counters recorded the largest foreign inflows.