ASPI ends week bullish amidst foreign buying

It was an overall bullish week for the Colombo Stock Exchange. The ASPI closed at 6517.13 up by 1.93% compared to the previous week with the S&P SL20 closing at 3531.36 up by 3.43%. ASPI recorded a year to date loss of 5.10% as at weekly closure.

The turnover levels for the week increased by 107% and the aggregated weekly turnover was LKR 4.87Bn. The foreigners appeared to be bullish during the week having recorded inflows of LKR 1.96 bn; resulting in a net foreign inflow of LKR 797.6 mn. The year to date net foreign outflow stands at Rs. 3.81Bn

The top three (03) positive contributors to the ASPI during the week were John Keells Holdings PLC (Rs.146.40, +3.98%), Distilleries Company of Sri Lanka PLC (Rs.264.30, +10.08%), Commercial Bank of Ceylon PLC (Rs.137.00, +5.38%). Further, the top 3 negative contributors to the ASPI were Ceylon Tobacco Company PLC (Rs.911.90, -1.95%), CT Holdings PLC (Rs. 121.00, -8.33%), Dialog Axiata PLC (Rs. 10.80, -1.82%). Further, on a technical analysis perspective the ASPI indicates a neutral view where the daily RSI stands at 66.07. The ASPI is below its 200 day Simple Moving Average level of 6547. The key Support levels are 6432 and 6360, whereas the key resistant levels stand at 6545 and 6610. Candor - Wealth Catalysts