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The All Share Price Index on the Colombo bourse last week gained 85 points to hit a nine-week high with Acuity Stockbrokers attributing the market gain to foreign investor activity.
"Despite just two days of trading, overall activity levels improved from the previous week as continued foreign inflows into selected blue chips reinforced retail and local high net worth investor buying interest across the board,’’ the Acuity market report said.
It said that over 40% of last week’s turnover volume was generated through foreign trades. This helped push up the daily average turnover during the two trading days last week up by approximately 4% to Rs.0.7 billion.
"Markets in the week ahead are likely to retain this positive momentum as investors gear-up in anticipation of positive quarterly earnings to be released in a few weeks," the report said.
The ASPI gained 88.42 points (1.45%) during the two-day trading week closing at 6,180.76 points. S&P SL20 was up 41.10 points (1.23%).
JKH dominated total week turnover in value terms accounting for 22.44% (Rs.316.2 million) of the total followed by Seylan Bank which accounted for 15.15% (Rs.213.49 million) and Commercial Bank 13.3% (Rs.187.42 million).
Daily average turnover at Rs.704.6 million was up 3.56% from a week earlier and total turnover during the two days of trading amounted to Rs.1.14 billion against Rs.3.4 billion in the previous week’s five days of trading.
Market capitalization was up by Rs.37.02 billion to Rs.2,588.28 billion.
John Keells Stock Brokers said in their weekly report that the market had edged sharply higher during the holiday-shortened week mainly led by strong gains on banking and diversified counters.
"Activity levels were moderate and were supported by crossings in JKH, Seylan (non-voting), Commercial Bank (voting and non-voting) and Sampath,’’ the report said.
Foreign participation resulted in a net inflow of Rs.279.7 million, JKSB said.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=101874
"Despite just two days of trading, overall activity levels improved from the previous week as continued foreign inflows into selected blue chips reinforced retail and local high net worth investor buying interest across the board,’’ the Acuity market report said.
It said that over 40% of last week’s turnover volume was generated through foreign trades. This helped push up the daily average turnover during the two trading days last week up by approximately 4% to Rs.0.7 billion.
"Markets in the week ahead are likely to retain this positive momentum as investors gear-up in anticipation of positive quarterly earnings to be released in a few weeks," the report said.
The ASPI gained 88.42 points (1.45%) during the two-day trading week closing at 6,180.76 points. S&P SL20 was up 41.10 points (1.23%).
JKH dominated total week turnover in value terms accounting for 22.44% (Rs.316.2 million) of the total followed by Seylan Bank which accounted for 15.15% (Rs.213.49 million) and Commercial Bank 13.3% (Rs.187.42 million).
Daily average turnover at Rs.704.6 million was up 3.56% from a week earlier and total turnover during the two days of trading amounted to Rs.1.14 billion against Rs.3.4 billion in the previous week’s five days of trading.
Market capitalization was up by Rs.37.02 billion to Rs.2,588.28 billion.
John Keells Stock Brokers said in their weekly report that the market had edged sharply higher during the holiday-shortened week mainly led by strong gains on banking and diversified counters.
"Activity levels were moderate and were supported by crossings in JKH, Seylan (non-voting), Commercial Bank (voting and non-voting) and Sampath,’’ the report said.
Foreign participation resulted in a net inflow of Rs.279.7 million, JKSB said.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=101874
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