Market turns green with revitalized interest in the banking sector

After continuous selling in the previous sessions, the bourse closed in green gaining 23 points with revitalized interest on banking counters uplifting the index, the First Capital Research said.

The consumer services sector witnessed active investor participation driven by the tourism sector which experienced more than 76,000 tourist arrivals during the first three weeks of March 2023.

CTC witnessed increased foreign selling and local buying, whereas profit-taking was extended on HAYL due to the ex-dividend (XD). Market turnover recorded at Rs.1.9 billion (-1.6% cf. monthly average turnover of Rs.1.9 billion) contributed by the Food, Beverage & Tobacco sector (41%), Banking sector (20%), and the Capital Goods sector (10%).

However, foreign investors remained net sellers and recorded a net foreign outflow of Rs. 597.1 million.