The Colombo Bourse continued on negative sentiments owing to selling pressure across the board. The benchmark ASPI fell 148.92 points(-2.22%) WoW to close at 6,549.91 and the MPI fell 99.81 points (-1.67%) WoW to end the week in red.
Weekly turnover and volume levels
The market posted a cumulative turnover of LKR 6.82bn and an average daily turnover of LKR 1.70bn during the week. The week recorded a total volume of 245.5mn shares changing hands.
The week saw foreign investors emerging as net buyers generating a net foreign inflow of LKR 592.6mn. There was also foreign interest on JKH during the week by way of crossings.
Retail investors played a dominant role during the week but, institutional and high net worth investor participation was also evident during the week on selected counters.
Oil Palm emerged as the top sector gainer while IT and Plantation sectors were the top sector losers for the week.
A look at the next week
Investors are advised to consider the current market condition as a fine opportunity to accumulate fundamentally healthy counters. They should consider counters that have the potential to post strong September quarterly results.