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High net worth and institutional investors dominate
High net worth and institutional investors dominated the Colombo share market last week which closed on Friday with the main All Share Price Index hitting a near three-and-half-year high pushing up the year-to-date return on the Colombo bourse to 24.26 percent, Acuity Stockbrokers said in their weekly Share Market Review.
"Daily average turnover – albeit lower than the previous week – remained above Rs.2 billion amid continuing buying interest in banking and finance counters," the report said.
"Daily average net inflows meanwhile declined relative to the previous week amid significant outflows on Tuesday. Foreign investors closed the week in a net buying position, helping extend the year to date net position to Rs.14.95 billion."
Acuity said that corporate earnings for the period ending September 2014 has been broadly positive with approximately 67% of the quoted companies that had reported earnings thus far recording year-on-year gains.
"Continued earnings reports, particularly from the large cap stocks, are likely to drive market activity this week," the report said.
The ASPI was up 1.22% (89.34 points) while S&P SL20 gained 1% (40.92 points).
Turnover was driven by the sale of a strategic 21.4% foreign stake in Vallibel Power which made the counter the highest contributor to the week’s turnover value accounting for Rs.1.32 billion (15.96%) of the total.
JKH followed with Rs.1.27 billion (15.34%) while Lanka IOC was the third largest contributor accounting for Rs.625.13 million (7.53%)
The daily average turnover at Rs.2.08 billion was 4.48% below the previous week’s Rs.2.17 billion with total turnover in a four-day trading week amounting to Rs.8.3 billion against Rs.8.6 billion the previous week.
John Keells Stockbrokers reported that the ASPI had closed 1.22% higher than the previous week with broad based activity levels focused on diversified, power and energy and banking, finance and insurance counters driving turnover.
JKSB said that reduced foreign participation resulted in net inflows last week dropping to Rs.795 million.
www.island.lk
High net worth and institutional investors dominated the Colombo share market last week which closed on Friday with the main All Share Price Index hitting a near three-and-half-year high pushing up the year-to-date return on the Colombo bourse to 24.26 percent, Acuity Stockbrokers said in their weekly Share Market Review.
"Daily average turnover – albeit lower than the previous week – remained above Rs.2 billion amid continuing buying interest in banking and finance counters," the report said.
"Daily average net inflows meanwhile declined relative to the previous week amid significant outflows on Tuesday. Foreign investors closed the week in a net buying position, helping extend the year to date net position to Rs.14.95 billion."
Acuity said that corporate earnings for the period ending September 2014 has been broadly positive with approximately 67% of the quoted companies that had reported earnings thus far recording year-on-year gains.
"Continued earnings reports, particularly from the large cap stocks, are likely to drive market activity this week," the report said.
The ASPI was up 1.22% (89.34 points) while S&P SL20 gained 1% (40.92 points).
Turnover was driven by the sale of a strategic 21.4% foreign stake in Vallibel Power which made the counter the highest contributor to the week’s turnover value accounting for Rs.1.32 billion (15.96%) of the total.
JKH followed with Rs.1.27 billion (15.34%) while Lanka IOC was the third largest contributor accounting for Rs.625.13 million (7.53%)
The daily average turnover at Rs.2.08 billion was 4.48% below the previous week’s Rs.2.17 billion with total turnover in a four-day trading week amounting to Rs.8.3 billion against Rs.8.6 billion the previous week.
John Keells Stockbrokers reported that the ASPI had closed 1.22% higher than the previous week with broad based activity levels focused on diversified, power and energy and banking, finance and insurance counters driving turnover.
JKSB said that reduced foreign participation resulted in net inflows last week dropping to Rs.795 million.
www.island.lk
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