Save for last Monday, April 27, when the benchmark index settled at 7,958.07 with a daily gain of 10.82 points or 0.14 percent, the market fell all the way down last week, overwhelmed by foreign investors’ selling activity, stirred by the recent weakness gripping most equity markets.
Notice that the market managed to end on positive ground when foreign investors became net sellers on Monday with their market participation at 53.52 percent of total transactions.
But, as observed in the past, as foreign investors’ trading activity persisted towards the same direction and their trading participation to total market transactions also continued to increase, the bearing of the market started to change.
The market, therefore, slipped on Tuesday as foreign investors continued to be net sellers and their market participation also inched higher to 54.31 percent. The market fell to 7,886.57 with a daily loss of 71.50 points or 0.90 percent.
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On Wednesday, foreign investor’s trading activity continued in the same direction. Their market participation also further increased to 57.70 percent. As a result, the market fell 61.10 points or 0.77 percent at 7,825.47.
Again, foreign investors’ continued to be net sellers on Thursday, the last trading day of the week as well as the end of the month of April. Foreign market participation, this time, also rose significantly to 60.59 percent.
