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Thursday September 29th, 2022

Sri Lanka bourse edges up after three-session fall amid continued foreign inflow

ECONOMYNEXT – Sri Lanka stocks edged up on Wednesday (21) with significant foreign inflows, recovering after slipping three consecutive sessions due to profit-taking, data showed.

The bourse saw a net foreign inflow of 990 million rupees on Wednesday. The inflow so far this year is 10.9 billion rupees after 12.3 billion rupees of net offshore buying in the last 27 consecutive sessions amid positive sentiment over an IMF deal.

The main All Share Price Index (ASPI) gained 0.12% or 12.09 points to close at 9,913.22.

Analysts previously said that the market has been witnessing a pattern of short-runs with short-lived buying and selling pressures around active shares.

The market saw a turnover of 4.6 billion rupees, slightly higher than year’s average turnover of 3.25 billion rupees.

The more liquid S&P SL20 index ended 0.45% or 14.35 points up at 3,199.94.

The main index ASPI has gained 9.2 percent in September so far after gaining 17.3 percent in August.

The index has lost 18.9 percent so far this year after being one of the world’s best stock markets with an 80 percent return last year when large volumes of money were printed.

Lanka IOC pushed the index up, closing 3.8 percent higher at 291 rupees a share.

Sampath Bank closed 2.4 percent up at 38.4 rupees and ACL Cables gained 8.8 percent to 105.5 rupees a share. (Colombo/Sept21/2022)

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