ASPI ends week bullish

It was an overall bullish week for the Colombo Stock Exchange.

The ASPI closed at 6602.24 up 1.23% compared to the previous week with the S&P SL20 closing at 3632.86 up 1.85%. ASPI recorded a year to date loss of 3.86% as at weekly closure.

The turnover levels for the week increased by 44% and the aggregated weekly turnover was Rs. 4.76 bn.

 The foreigners appeared to be bullish during the week having recorded inflows of Rs.2.05 bn; resulting in a net foreign inflow of Rs. 49.98Mn. Foreign interest was mainly observed on John Keells Holdings PLC (JKH). JKH closed the week at Rs.158.00, up by Rs.2.90 during the week. The year to date net foreign outflow stands at Rs. 3.22Bn. The top three (03) positive contributors to the ASPI during the week were Nestle Lanka PLC (Rs.2309.90, +10.73%), Ceylon Tobacco Co PLC (Rs.930.00, +3.33%), Dialog Axiata PLC (Rs.11.60, +5.45%). Further, the top 3 negative contributors to the ASPI were Ceylon Tea Services PLC (Rs.724.90, -12.56%), Ceylinco Insurance PLC (Rs. 1313, -6.21%), Carson Cumberbatch PLC (Rs. 213.10, -3.40%).

On a technical analysis perspective, the ASPI indicates an overbought view where the daily RSI stands at 71.15. The ASPI is above its 200 day Simple Moving Average level of 6524. The key Support levels are 6489 and 6432, whereas the key resistant levels stand at 6610 and 6677.