Colombo Bourse ended on a positive note this week with the ASPI gaining 2.4% WoW to close at 7,651 index points and the S&P SL 20 gained 4.34% WoW to close at 2,470 index points. Weekly market turnover rose to LKR 4.6 bn. Crossings were witnessed in Commercial Bank and HNB, which accounted for 4.2% of the total turnover. Meanwhile, foreigners closed the week as net sellers with a net capital outflow of LKR 253 mn.
The market trended positive during the week due to bargain hunters investing in liquid and discounted counters. We continue to witness the market being driven by domestic investor participation and sentiment, as such, we expect trading to be turbulent and volatile in the interim. As such, we recommend that investors take steps to adopt an active investment strategy taking advantage of any price weaknesses and focusing on fundamentally robust stocks with strong EPS growth prospects in the medium to long run.
Courtesy – Asset Trust Management (Pvt) Ltd, WealthTrust Securities Ltd
– Sunday Observer Sri Lanka
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