SMB Securities Mid-Week Watch

Melissa Pereira Fri May 29, 2015 10:33 am

The stock market operations generated a total turnover of LKR 6.00 bn with an average daily turnover of LKR 1.20 bn over the week in response to the improved earnings and financial performance expressed by the quarterly results disclosed by some of the major companies.

The ASPI showed a decline of 36.27 points and closed at 7,253.50 while the S&P SL20 declined by 42.66 points to 4,030.86 from 4,073.52. The week experienced a net foreign outflow of LKR 923.8mn resulting from the 84% decline in net foreign purchases to LKR 143.77 mn and the 9.84% increase in net foreign sales to LKR 328.53 mn compared to LKR 917.65 mn and LKR 299.10 respectively, for the previous week. The high net foreign purchases over the week ended 20.05.2015 was resulted from a one off significant foreign purchase of LKR 3.19 bn. This concludes that there was no alarming decline in foreign purchases over the past week

The banking, Finance and Insurance sector became the largest contributor to market turnover with 57.06% closely supported by the manufacturing sector with a 16.69% contribution to total market turnover

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