 for the second consecutive market day to today, with today’s value too being sizeable, Rs121.25 million){kind=link}
The stock market suffered a net foreign outflow (NFO) for the second consecutive market day to today, with today’s value too being sizeable, Rs121.25 million, bogged down by sustained uncertainty, coupled with a high inflationary and high interest rate regime, inimical to the growth of the bourse, though in the calendar year to date it has enjoyed a net foreign inflow of Rs 1.19 billion.
The stock market also suffered a daily turnover of under Rs one billion for the eighteenth consecutive market day to today, Prior to today, the last time the stock market made daily turnovers of under Rs one billion for at least 18 consecutive market days was more than three years ago when the COVID-19 crisis first hit Sri Lanka. Subsequently for 25 consecutive market days, ie from 30 January 2020 to 6 March 2020, the stock market made daily turnover levels of under Rs one billion. The number of shares that changed hands today was a nominal 42.71 million.
Nonetheless, market indices made pyrrhic gains amidst retail buying pressure for the second consecutive market day to today, with the benchmark ASPI and the ‘more sensitive’ S&P SL 20 Index increasing by 1.39 and 1.95 per cent, today over yesterday to 8,755.17 and 2,496.55 points respectively.