Home
Login to reply
SrirangaVeteran
- Posts : 3226
Join date : 2014-02-23
Location : Colombo 
ASPI breaches 6,000-point barrier, turnover highest since June 2012
Sat Apr 05, 2014 10:35 pm
The All Share Price Index of the Colombo Stock Market last week breached the 6,000 point barrier and turnover reached its highest level since June 2012 with renewed investor confidence boosting markets, Acuity Stock brokers said in its share market report.
"Despite profit taking at the start of the week pushing the ASPI lower, heavy high net worth and institutional activity and improved retail interest boosted markets 82.38 points higher," the report said.
"Foreign activity too reflected a rebound at the start of the week until Friday’s foreign sales worth Rs.4.5 billion whittled down the cumulative net inflows into net outflows of Rs.2.7 billion."
JKH accounted for approximately 93% of this outflow as a result of a partial sell-down by one of its foreign institutional investors, the report said.
The block was mopped up by local high net worth investors helping to boost the daily turnover on the CSE to its highest level since June 2012.
Acuity expected the market this week to sustain the current momentum created by high net worth and institutional investors who were strategically buying into selected counters.
"The consequent boost to sentiment is likely to attract further retail investor interest and help boost overall volumes," the report said.
The ASPI gained 82.38 points (1.38%) to close the week at 6,054.55 points while S&P SL20 gained 44.43 points (1.36%) to close the week at 3,323.10 points.
Large transactions in JKH resulted in the stock accounting for a significant 72.17% of the week’s total turnover with the counter contributing Rs.7.48 billion to the total business volume for the week, th report said.
Other notable contributors were Citrus Leisure (Rs.414.66 million) and Commercial Bank (Rs.337.8 million).
Net foreign outflows last week declined 3.62% to Rs.2.69 billion from Rs.2.80 billion.
Commercial Bank and Piramal Glass led foreign purchases in volume terms while JKH and Hemas Holdings led foreign sales.
John Keells Stock Brokers reported that the ASPI experienced healthy gains with activity levels picking up towards the latter half of the week with turnover largely dominated by trades in JKH. On Friday, there was increased foreign selling of JKH leading to a foreign outflow of Rs.2.69 billion for the week.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=101165
"Despite profit taking at the start of the week pushing the ASPI lower, heavy high net worth and institutional activity and improved retail interest boosted markets 82.38 points higher," the report said.
"Foreign activity too reflected a rebound at the start of the week until Friday’s foreign sales worth Rs.4.5 billion whittled down the cumulative net inflows into net outflows of Rs.2.7 billion."
JKH accounted for approximately 93% of this outflow as a result of a partial sell-down by one of its foreign institutional investors, the report said.
The block was mopped up by local high net worth investors helping to boost the daily turnover on the CSE to its highest level since June 2012.
Acuity expected the market this week to sustain the current momentum created by high net worth and institutional investors who were strategically buying into selected counters.
"The consequent boost to sentiment is likely to attract further retail investor interest and help boost overall volumes," the report said.
The ASPI gained 82.38 points (1.38%) to close the week at 6,054.55 points while S&P SL20 gained 44.43 points (1.36%) to close the week at 3,323.10 points.
Large transactions in JKH resulted in the stock accounting for a significant 72.17% of the week’s total turnover with the counter contributing Rs.7.48 billion to the total business volume for the week, th report said.
Other notable contributors were Citrus Leisure (Rs.414.66 million) and Commercial Bank (Rs.337.8 million).
Net foreign outflows last week declined 3.62% to Rs.2.69 billion from Rs.2.80 billion.
Commercial Bank and Piramal Glass led foreign purchases in volume terms while JKH and Hemas Holdings led foreign sales.
John Keells Stock Brokers reported that the ASPI experienced healthy gains with activity levels picking up towards the latter half of the week with turnover largely dominated by trades in JKH. On Friday, there was increased foreign selling of JKH leading to a foreign outflow of Rs.2.69 billion for the week.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=101165
Permissions in this forum:
You cannot reply to topics in this forum