ASPI at a 3-month high, turnover highest in 3 weeks, Stock market looking up

The benchmark All Share Price Index of the Colombo Stock Exchange last week hit a 3-month high of over 6,248 points following gains in four consecutive trading sessions driven by institutional, high net worth and retail investors, Acuity Stockbrokers said in its Share Market Weekly report.

"Market turnover too hit a 3-week high of Rs.1.31 billion on Friday led by counters in the banking and finance and diversified sectors," the report said.

Acuity reported that significant crossings in JKH and First Capital Holdings on Wednesday had also contributed to overall volumes.

The report said that strong high net worth investor participation and improved retail interest over the past few weeks had helped boost the year-to-date average daily turnover to Rs.0.96 billion – 16.6% higher than the daily full year average in 2013 of Rs.0.82 billion.

"Foreign investors however closed the week in a net selling position following three consecutive weeks of net inflows," the report said.

"Although the foreign equity sell-off which started in February continued in April, the net selling position has in fact declined consecutively."

Net foreign outflows for April stood at Rs.0.35 billion compared to Rs.5.1 billion in February indicating what Acuity called "the gradual easing of the equity sell-off."

"Markets in the week ahead are likely to sustain the current positive momentum, with retail activity in particular expected to gain further momentum," the report said.

The May Day holiday cut the trading week to four days and the market closed on Friday with the ASPI gaining 80.63 points (1.31%) while S&P SL 20 was up 47.84 points (1.41%).

Aitken Spence was the highest contributor to the week’s turnover value with Rs.349.15 million accounting for 9.86% of the total. Expolanka followed with Rs.303.04 million (8.55%) and JKH with Rs.237.15 million (6.69%).

The daily average turnover for the week at Rs.885.7 million was up 8.84% from the previous week’s Rs.813.8 million but total turnover value for the week was down to Rs.3.54 billion from the previous week’s Rs.4.07 billion over five trading days.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=102683

Thanks Red for sharing. ?Can any one post foreign buy sell data.

Ethical Trader wrote:Can any one post foreign buy sell data.

Refer the following link.

https://investorsentiment.forumotion.net/t624-02-may-2014-cse-trade-market-summary


Note: CSE daily Trade Summary mostly show Top 5 or 10 Foreign Buy / Sell for the day

Thanks red.very encouraging report.  

"Foreign investors however closed the week in a net selling position following three consecutive weeks of net inflows," the report said.

Is this can give any hint for the future direction of the market ?