Market on bumpy ride

During the week, the All Share Price Index (ASPI) declined 3.50 points to close at 6,715.33 while S&PSL20 declined 1.14 points to close at 3,915.30 points. The daily average turnover was recorded at Rs.1,189 mn compared to Rs.1,147mn reported during the previous week. Foreign buying for the week was Rs.3.8bnand foreign selling was Rs.3.4bn.

Market declined on Monday with ASPI and S&PSL20 declining by 34.81 points and 31.16 points respectively. The total turnover for the day amounted to Rs.846mn. Access Engineering (AEL) was the second largest contributor of turnover; 5.76mn shares changed hands for Rs.152mn.

On Tuesday 2.7mn shares of JKH traded for Rs.468mn which was the day’s single largest turnover. ASPI gained Rs.21.43 points while S&PSL20 gained 15.31 points.

JKH continued to be the largest contributor of turnover on Wednesday with 1.2mn shares traded for Rs.217mn. Market partly regained its lost ground with ASPI and S&PSL20 gaining 25.80 points and 22.43 points respectively.

1.2mn shares of Singer Sri Lanka changed hands on Thursday for Rs.57mn and the share price closed up Rs.1.50 at Rs.49.00. Total turnover for the day was limited to Rs.495mn and the market closed on a negative note with ASPI and S&PSL20 losing 16.52 points and 9.40 points respectively.

On Friday, the market closed almost flat with ASPI and S&PSL20 reporting marginal gains of 0.60 points and 1.68 points respectively. Total turnover for the day amounted to Rs.2.7bn.