Tuesday, December 15, 2020

Market’s longest winning streak ends

Longest winning streak experienced for the past 15 trading sessions was disrupted, reverting the direction of the market to negative. Index witnessed a downtrend since the beginning of the session as it hit its intraday low of 6,626 during mid-day.

Later market experienced a short-lived bounce back and closed at 6,632 losing 25 points.

Consumer services sector dominated the turnover for the session with a contribution of 34% aided by SHOT.

Market experienced 3-week continuous net foreign outflow while recording low participation.

The secondary market witnessed slight selling interest during the day mainly centered on the long end of the yield curve although overall market recorded thin volumes.

Meanwhile, CBSL announced an issue of LKR 40 Bn worth of T-bills through an auction on December 16 2020.

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