ASPI up over 2.5% last week; average turnover tops Rs.4.3bn

Buoyed by positive local investor sentiment, the main All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) rose 2.54 percent or 147.07 points last week to 5, 945. 79, while the more liquid S&P SL20 Index rose 0.93 percent or 21.93 points to 2, 370.43.

The average turnover for the week was Rs.4.3 billion, significantly higher than the year-to-date average turnover. 
Brokers said high net worth investors, institutional investors and retailers were active in the market last week.
However, foreigners were on the selling side with net foreign sales for the week topping Rs.1.2 billion.

The market capitalisation as end of last week was Rs.2.58 trillion, compared to Rs.2.52 trillion a week ago.  With more companies expected to report earnings for the second quarter of the FY21 this week, the market is expected to steam further ahead with higher investor participation. 

CSE Chief Executive Rajeeva Bandaranaike in a recent tweet said 43 percent of the new trading accounts opened by local investors since re-opening of the market on May 11 can be attributed to the 18-30 
age group.