Weekend Market Report - 31st July 2020

Weekly Market Reports for your information, a summary of week’s market performance is as follows;

Index	Movement	Change (points)	Closing
ASPI	Up	58.96	5,124.26
S&P SL20	Up	17.76	2,179.65
Turnover (LKR)	5,117Mn
Share Volume	283.2Mn
Net Foreign outflow	(489Mn)

Performance of the Market

 Monday – Bourse strengthened further following the announcement of currency swap with India. Recommencement of Schools and upcoming Parliament election had boosted the investor confidence. Higher level of activities noted on penny stocks. ASPI gained 0.79%. S&P SL20 gained 0.75%. Turnover 1.03Bn.

 Tuesday – Bourse was positive in the early session but later witnessed profit taking, especially on banks; worries over the upcoming quarterly earnings weighed on the investor confidence. ASPI lost 0.11%. S&P SL20 lost 0.31%. Turnover 795Mn.

 Wednesday – Bourse continued to witness profit taking. ASPI lost 0.11%. S&P SL20 lost 0.38%. Turnover 830Mn.

 Thursday – Positive movements in LOLC group counters contributed positively. Better than expected results from JKH had convinced the worried investors. ASPI lost 0.12%. S&P SL20 lost 0.45%. Turnover 1.06Bn

 Friday – Bourse turned positive, boosted by the unexpected better earnings reported by the Seylan Bank. Increased level of buying interest noted on Banking Sector, following the improvements in investor confidence. ASPI gained 0.71%. S&P SL20 gained 1.22%. Turnover 1.4Bn

 During the week – Investor confidence improved further due to better than expected earnings of value stocks. Foreign investors remained net sellers throughout the week. ASPI was fluctuated within the range of 5,076.43 – 5,135.39 points.

 

Source: Asha Securities Weekly Analysis Report