The positive momentum witnessed during the previous week continued to improve the indices while the ASPI returned back to 5,000 mark. during the first half of the week indices further appreciated amidst active retail participation. However, during Thursday and Friday institutional or high net worth investors joined despite the negative sentiment prevailed. Foreign investor participation was also increased in last two days.
The short bull run prevailed during the latest two weeks can be interpreted as a recovery of the sharp declines witnessed prior to the positive days. The momentum gathered during last weeks subdued amidst profit taking and selling pressure. Active participation of both retail and institutional investors is a positive sign. However, with recovering signs of certain economic indicators, the market may get a positive outlook to sustain a upward trend.