ASI suffers biggest weekly loss in 16 months

Monday, 26 August 2013 00:00 - - {{hitsCtrl.values.hits}}

Lanka Securities said ASI recorded its biggest weekly loss in 16 months as the index fell throughout the week on index heavy blue chips amid foreign buying. ASI fell by 4.5% (281.38 points) to end at four month low of 5,951.83. Price depreciation in heavy market cap stocks such as Ceylon Tobacco by 19%WoW, Ceylinco Insurance by 15%WoW, Nestle by 10%WoW and John Keells Holdings by 6%WoW contributed negatively to the weekly performance. Interestingly foreign investors were quite active during the week and foreign participation further improved to 51% from 44% week ago. Foreign investors were net buyers during the week with a total net inflow of Rs. 1.0 billion. Year-to-date net foreign inflow was Rs. 17.8 billion.

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