Key Takeaways
- Sri Lankan shares closed higher on Tuesday.
- Utilities and real estate stocks led the gains.
- Foreign investors were net sellers, while domestic investors were net buyers.
Sri Lankan shares saw a positive close on Tuesday, with the CSE All Share index ending up 0.36% at 21,054.01. This was driven by broad-based gains, particularly in utilities and real estate sectors.
Two of the top gainers were Asia Siyaka Commodities and Hikkaduwa Beach Resort, which rose 7.3% and 6.7% respectively on the CSE All Share index.
Trading volume increased significantly, rising to 58.4 million shares from 48.7 million in the previous session. The market’s turnover also saw a notable increase, reaching 1.37 billion Sri Lankan rupees ($4.16 million) from 750.3 million rupees in the previous session.
Despite the overall positive trend, foreign investors were net sellers, offloading stocks worth 82.2 million rupees. In contrast, domestic investors were net buyers, purchasing shares worth 1.35 billion rupees.
The CSE All Share index’s performance reflects a mixed sentiment among investors, with some sectors performing well while others remained stable.
The rise in trading volume and turnover suggests increased investor interest in the market, though the net selling by foreign investors indicates some caution.
The market’s resilience, despite the net selling by foreign investors, could be seen as a positive sign for domestic investors, who were net buyers.
The performance of the Sri Lankan equity market on Tuesday highlights the ongoing volatility and the interplay between domestic and foreign investor sentiments.
