Markets remain bullish due to local investors | Daily News


 

Markets remain bullish due to local investors

The Local Stock Market has continued to remain bullish recording high levels of turnover post resumption of trading after remaining closed for a two-month period owing to the COVID-19 pandemic. Local investors have played a key role, accounting for more than half the volumes recorded since reopen and continue to collect securities at low price points. The market has continued moving upward remaining resilient achieving post-pandemic levels.

The market which resumed for trading on May 11, has continued to remain resilient amidst foreigners exiting the market, which is not unique to the CSE but is that which is experienced by the markets around the world.

However, there has also been interest by foreign investors who have purchased Rs. 44 billion a year to date.

The Indexes which dropped to its lowest levels recorded in over a decade has recovered, recouping its losses and gaining ground. The Bench Mark All Share Price Index gained 205.07 points during the month of August to end the month at 5,329.33 points while the S&P SL20 index which represents the 20 largest, profitable and most liquid stocks on the exchange have also gained 180.10 points ending the month on 2,359.75 points.

The Consolidated turnover for the month of August was Rs.36.86 billion which accounts for a Rs. 1.84 billion daily average turnover during the month.


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