ASI showed the biggest jump for the Year

CSE All Share Index showed the biggest increase for 2019. But it was not in the week just ended, this happened during the previous week that ended on the 5th of July 2019. ASI moved from a low of 5366 to 5543 points, during that week.  That is an increase of 177 points. Furthermore the number of Trades for the week increased to 23k from 11k during. 15 Counters had trades over 300, and 10 with over 500 trades. There were 2 counters with over 1k trades. They were Sampath Bank Plc with 1434 trades, and AEL with 1023 trades.

During the week just ended on the 12th instant, the Index had a low of 5498, and a high of 5579, finally closing at 5569.90. Increase of 81 points from the low to the high. Number of trades came down though, from 23k to 22k. 15 counters had over 300 trades just like the previous week, while 7 of them had 500+ trades. Only AEL had trades over 1k with 1471. LIOC came close with 980 trades.

The above numbers show that the ASI had recorded an increase of 213 points from a low of 5366 to a high of 5579. This could move into a consolidation, which will determine the way forward.

The following developments have increased attention and brought Investors and Traders back Moderately.

1. EPF returned in to the market after ages.
2. Rate cut by the CBSL.
3. Reduction of the Deposit ceiling by the CBSL for the next 6 months.
4. 4+ years of Bear market bringing down stock prices disproportionately.
5. Pre and Post Election rally.
6. Sentiment change with announcements of candidates.
7. June earnings season that will kick in any time soon.

Any consolidation in the Market and your favourite counters are great opportunities to Buy on Dips.