Market remains sluggish

During the week the All Share Price Index (ASPI) gained 25.23 points to close at 6,427.26while S&PSL20 gained 9.81points to close at 3,692.15.

The daily average turnover was recorded at Rs.888mn compared to Rs.2.9bn reported during the previous week. Foreign buying for the week was Rs.2.9bnand foreign selling was Rs.2.0bn.

On Monday JKH posted the day’s single largest turnover of Rs.127mn with 775,460 shares traded during the day. Total turnover for the day was amounted to Rs.459mn and the market closed up with ASPI and S&PSL20 gaining 7.62 points and 1.35 points respectively.

Total turnover on Tuesday reached Rs.1.6bn to which the largest contribution of 724mn made by JKH. Market continued to gain the momentum with ASPI and S&PSL20 gaining 18.42 points and 8.83 points respectively.

JKH continued to post the largest turnover for the third consecutive day on Wednesday with 4.7mn shares traded for Rs.785mn; share price gained 30cents at Rs.165.50. ASPI gained 24.84 points and S&PSL20 gained 23.73 points.

Market lost the ground on Thursday with ASPI and S&PSL20 marginally losing 1.36 points and 3.03 points respectively. Total turnover for the day amounted to Rs.541mn.

Market was sluggish on Friday with the day’s total turnover being low as Rs.218mn. Very less levels of foreign activity was reported during the day and the ASPI and S&PSL20 declined by 24.29 points and 21.07 points respectively.