Wednesday, October 25, 2017

ASI today - 25.10.2017. Retailers showed robust activity

ASI mainly belonged to the retailers today. If you happen to be one such retailer, ask yourself, as to why you were wondering when many of your type are out in the field.

BFN, ACL, MAL, SAMP, MASK, GSF, CFVF, and VPEL were the stocks that they could participate quite liberally. Alongside there were Investors who picked up Stocks such as SAMP by paying premiums, showing the confidence behind the Stock.

Total T/O was LKR 892M+, out of which 38% was through crossings, whilst 62% came from the Normal Board activities. We witnessed 5946 transactions. Up over the last couple of days.

Some of the blue chips are waning out in the likes of JKH. But there was a block trade on it. Hopefully a foreign buy. Banks hit another round of a Trend continuation, after a slight consolidation. Plantations are not that attractive, which is understandable after a non stop trend extension. However there is steam in it until the results are announced.

ASI is testing a critical area of resistance between 6610 and 6620, as it closed at 6615 points, with an intra-day high of 6622 points. We need to see a strong breakout from this area. Possibly it would be the banks and some not so regular blue chips such as BUKI helping to do so. Watch it.


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