Monday, 3 November 2014 00:37
The Colombo stock market has drawn Rs. 7.8 billion in net foreign inflows during October, according to Acuity Stockbrokers.
“Although the Y-T-D net inflows are in fact approximately 38% lower than net inflows in the comparable period last year, the foreign equity sell-off that dominated much of early-2014 has eased off significantly; cumulative net inflows to the CSE in October totalled Rs. 7.8 billion, up sharply from net outflows of Rs. 4.2 billion in September and August and net inflows of Rs. 4.7 billion in July,” Acuity said. Last week saw net foreign inflow reach Rs. 3.95 billion over the previous week and helped the year to date net inflows to Sri Lankan equities to total Rs. 14.16 billion compared with Rs. 23 billion in Jan-Oct 2013.
Major attractors of net foreign buying were John Keells Holdings (Rs. 1.5 billion), NTB (Rs. 1.2 billion), Dialog (Rs. 574 million), Asia Asset (Rs. 347 million), NDB (Rs. 196 million), Overseas Realty (Rs. 179 million) and Hemas Holdings (Rs. 127 million).
Acuity said similar upbeat momentum was likely in the week ahead, as investors gear-up in anticipation of positive quarterly earnings.