The market opened the week on a negative note, plummeting by 3.99% (202.31 points) over last weeks’ close as retail investors continued their panic selling spree. The sentiment during the early trading hours of Tuesday was no different with the Colombo benchmark, the All Share Price Index (ASPI) plunging a further 100 points. However the Colombo bourse experienced a strong recovery towards the latter part of the day ending higher by 4.73% (230.08 points) over Mondays’ close. The positive sentiment was short lived as the market went into the red on Wednesday & Thursday recording losses of 0.28% (14.30 points) & 0.86% (43.79 points) respectively. On Friday the market sentiment turned positive again with both the indices, the ASPI in particular registering a notable gain of 1.61% (80.95 points) over Thursdays’ close. On a week on week basis the two main market indices ended in opposite directions with the ASPI rising by 1.00% (50.72 points) while the Milanka Price Index shed 0.26% (14.86 points) W/W.
Market Turnover levels narrowed down significantly during the week under review. Total market turnover was LKR.9.39bn while the average daily market turnover for the period was LKR.1.87bn, down from last weeks’ average daily turnover of LKR.4.01bn.
Foreigners ended as net sellers with foreign sales amounting to LKR.1.55bn against foreign purchases of LKR.0.95bn, resulting in a net foreign outflow of LKR.0.60bn.
