The turnover was LKR 560.5mn. Only three sectors in the index gained today namely beverage, food and tobacco sector, manufacturing sector and the financial service sector.
Foreigners dominated the market activity, accounting for 67% of the market turnover and were net buyers of LKR 174mn worth of shares. Despite high foreign and institutional participation, cash map (excl crossings) improved to only 46% indicating wait and see approach adopted by individual/domestic investors.
With the improved activity levels in the last few days, the market RSI has now increased to 43. The ASI seems to be bouncing up from the 50% retracement level which, coupled with other technical indicators suggest a potential short term upward movement in ASI.