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"Market stagnant despite continued declines in interest rates’’
The Colombo share market remains stagnant despite continued declines in interest rates, Acuity Stockbrokers said in a research report issued yesterday.
"Markets were stagnant throughout the week with the All Share Price Index declining 0.02% amid low retail participation," Acuity’s Weekly Research Report said.
It noted that interest rates continued to fall, dropping 33 bps over the last week and said that since the Central Bank’s policy rate cut early December, money market rates had declined 79 bps.
The market report said that volumes had remained paltry last week with turnover value averaging Rs.0.76 billion per day except on Tuesday and Thursday when turnover crossed the rupees one billion mark with deals in Asiri Central Hospitals and Commercial Bank.
Foreign activity declined significantly week-on-week last week with a cumulative foreign outflow of Rs.0.46 billion "contributing to the overall sluggish sentiment," the report said.
"Similarly muted sentiment is likely in the week ahead," the brokerage indicated.
Although the ASPI recorded a marginal decline of 0.02%, dropping 1.22 points last week, the more liquid S&P SL20 index continued the previous week’s momentum gaining 0.39% or 12.16 points, the report said.
JKH was the highest contributor to the week’s total turnover value contributing Rs.631.9 million accounting for 16.65% of total market turnover.
Asiri Central Hospitals accounted for 14.82% (Rs.562.7 million) while Commercial Bank contributed 13.40% (Rs.508.5 million).
Foreign investors closed the week with a net selling position of Rs.0.12 billion against the previous week’s net buying position of Rs.0.4 billion with average daily net outflows amounting to Rs.23.17 million against the previous week’s average daily net inflow of Rs.100.45 billion – a week-on-week decline of 123.07%.
John Keells Stock brokers reported that the market remained essentially flat over the week with turnover being stimulated by crossings along with transactions on the Asiri group which accounted for 45% of the weekly turnover.
"Foreign participation was centered mostly on large caps translating to a net outflow of Rs.115.9 million," JKSB said.
http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=70260
The Colombo share market remains stagnant despite continued declines in interest rates, Acuity Stockbrokers said in a research report issued yesterday.
"Markets were stagnant throughout the week with the All Share Price Index declining 0.02% amid low retail participation," Acuity’s Weekly Research Report said.
It noted that interest rates continued to fall, dropping 33 bps over the last week and said that since the Central Bank’s policy rate cut early December, money market rates had declined 79 bps.
The market report said that volumes had remained paltry last week with turnover value averaging Rs.0.76 billion per day except on Tuesday and Thursday when turnover crossed the rupees one billion mark with deals in Asiri Central Hospitals and Commercial Bank.
Foreign activity declined significantly week-on-week last week with a cumulative foreign outflow of Rs.0.46 billion "contributing to the overall sluggish sentiment," the report said.
"Similarly muted sentiment is likely in the week ahead," the brokerage indicated.
Although the ASPI recorded a marginal decline of 0.02%, dropping 1.22 points last week, the more liquid S&P SL20 index continued the previous week’s momentum gaining 0.39% or 12.16 points, the report said.
JKH was the highest contributor to the week’s total turnover value contributing Rs.631.9 million accounting for 16.65% of total market turnover.
Asiri Central Hospitals accounted for 14.82% (Rs.562.7 million) while Commercial Bank contributed 13.40% (Rs.508.5 million).
Foreign investors closed the week with a net selling position of Rs.0.12 billion against the previous week’s net buying position of Rs.0.4 billion with average daily net outflows amounting to Rs.23.17 million against the previous week’s average daily net inflow of Rs.100.45 billion – a week-on-week decline of 123.07%.
John Keells Stock brokers reported that the market remained essentially flat over the week with turnover being stimulated by crossings along with transactions on the Asiri group which accounted for 45% of the weekly turnover.
"Foreign participation was centered mostly on large caps translating to a net outflow of Rs.115.9 million," JKSB said.
http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=70260
