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Although sentiment on the Colombo bourse continued to be sluggish last week, foreign activity was strong with Acuity Stockbrokers reporting that as at March 7 foreign holdings of Sri Lankan securities had been 12.76% compared to 12.69% last December.
This was "despite concerns of the US FED Quantitative Easing (QE) and a consequent capital slide," the Acuity Weekly Market Report said.
The bourse closed on a negative note on Friday with both indices recording week-on-week losses with investors remaining mostly on the sidelines. The ASPI lost 1.17% (69.83 points) while S&P SL20 declined 1.17% (37.88 points), the report said.
It noted that there were consecutive daily declines and retail and high net worth investors remained on the sidelines amid selling pressure with the UNHRC resolution due to come up later in the month.
United Motors dominated total market turnover for the week contributing Rs.469.32 million or 22.30% of total turnover followed by Commercial Bank (Rs.359.3 million or 17.07%) and JKH 16.59% or Rs.349.23 million.
Daily average turnover value was a modest Rs.420.9 million although 13.08% up from the previous week’s Rs.372.24 million.
Market capitalization however was down 1.17% by Rs.29.16 billion to Rs.2,462.6 billion, the Acuity report said.
Foreign activity recorded a net buying position of Rs.0.19 billion, up 391.64% from the previous week’s net inflow of Rs.0.04 billion.The report noted that total foreign purchases increased 14.82% to Rs.0.89 billion from the previous week’s Rs.0.78 billion with total foreign sales down slightly to Rs.0.71 billion from Rs.0.74 billion a week earlier.
In volume terms Browns Investments and Textured Jersey led foreign purchases while Piramal Glass and Renuka Agri led foreign sales.
In value terms, JKH and Textured Jersey led foreign purchases with Sampath Bank and Aitken Spence leading foreign sales.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=99829
This was "despite concerns of the US FED Quantitative Easing (QE) and a consequent capital slide," the Acuity Weekly Market Report said.
The bourse closed on a negative note on Friday with both indices recording week-on-week losses with investors remaining mostly on the sidelines. The ASPI lost 1.17% (69.83 points) while S&P SL20 declined 1.17% (37.88 points), the report said.
It noted that there were consecutive daily declines and retail and high net worth investors remained on the sidelines amid selling pressure with the UNHRC resolution due to come up later in the month.
United Motors dominated total market turnover for the week contributing Rs.469.32 million or 22.30% of total turnover followed by Commercial Bank (Rs.359.3 million or 17.07%) and JKH 16.59% or Rs.349.23 million.
Daily average turnover value was a modest Rs.420.9 million although 13.08% up from the previous week’s Rs.372.24 million.
Market capitalization however was down 1.17% by Rs.29.16 billion to Rs.2,462.6 billion, the Acuity report said.
Foreign activity recorded a net buying position of Rs.0.19 billion, up 391.64% from the previous week’s net inflow of Rs.0.04 billion.The report noted that total foreign purchases increased 14.82% to Rs.0.89 billion from the previous week’s Rs.0.78 billion with total foreign sales down slightly to Rs.0.71 billion from Rs.0.74 billion a week earlier.
In volume terms Browns Investments and Textured Jersey led foreign purchases while Piramal Glass and Renuka Agri led foreign sales.
In value terms, JKH and Textured Jersey led foreign purchases with Sampath Bank and Aitken Spence leading foreign sales.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=99829
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