Weekly Stock Market Analysis Report - 28th Aug 2020

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

Index	Movement	Change (points)	Closing
ASPI	Down	61.51	5,320.87
S&P SL20	Down	33.80	2,360.38
Turnover (LKR)	8,716Mn
Share Volume	281.5Mn
Net Foreign outflow	(2,371Mn)

Performance of the Market

 Monday - Bourse started the week on a positive note but later indices turned negative due to profit taking on few large caps, but local investors remained bullish on value stocks. ASPI gained 0.06%. S&P SL20 gained 0.20%.Turnover 1.57Bn.

 Tuesday – Bourse turned negative due to month end profit taking and net foreign outflows. Confident statement from Central Bank on meeting foreign Debt obligations, contributed positively on retaining the investor confidence. ASPI lost 0.42%. S&P SL20 lost 0.80%.Turnover 2.02Bn.

 Wednesday –Reported disappointing quarterly earnings of LOLC has triggered a selling pressure and weighed on the indices, but the retail investors remained confident on value stocks. ASPI lost 0.51%. S&P SL20 lost 0.62%.Turnover 1.89Bn.

 Thursday – Bourse remained negative throughout the session; foreign outflows on blue chips weighed on the indices. Signs of recovery noted during the latter part. ASPI lost 0.04%. S&P SL20 lost 0.49%.Turnover 2.2Bn.

 Friday – Bourse witnessed mixed sentiments with buying interest on blue-chips but due to selling pressure on large caps (LOLC , MELS & DIAL) ASPI turned negative. ASPI lost 0.23%. S&P SL20 gained 0.30%. Turnover 1.04Bn

 During the week – ASPI fluctuated within the range of 5,317.87- 5,403.73 points; month end profit taking and disappointing earnings of LOLC weighed on the indices. Local investors remained confident on equities while net foreign outflows noted on blue-chips.