During the holiday shortened week the All Share Price Index (ASPI) gained 197.41 points to close at 6558.25 points, while the Milanka Price Index (MPI) also picked up 150.96 points to close at 6985.03 points. The daily average turnover was SLRs.1.78bn compared to SLRs.2.27bn last week and the week ended with foreign buying amounting to SLRs.1.12mn whilst foreign selling was SLRs.1.78mn.
On Tuesday, the start of a short working week, the market indices moved in opposite directions with ASPI closing up 18.07 points and MPI closing down 5.20 points. Total turnover for the day amounted to SLRs.1.25bn while Commercial Bank, the highest contributor generated a turnover over SLRs.350mn which included 5 crossings amounting to 1.23mn shares. The counter closed down SLRs.3.20 at SLRs. 255.40. JKH reported the second largest turnover of SLRs.260mn which included a crossing of 140,000 shares at SLRs.299.00. Bairaha Farms which made a significant contribution to the day's turnover closed up 10.88% at SLRs.247.60 with more than 330,000 shares traded during the day.
Indices rebounded on Wednesday with the market reporting a total turnover of SLRs.2.3bn. Conglomerate JKH reported the day's largest turnover of SLRs. 689mn which included two crossings amounting to 1.95mn shares at SLRs.300.00 and another crossing of 75,000 shares at SLRs.299.00. Poultry farming firm Bairaha Farms continued to be heavily traded as the counter closed up SLRs.31.80 at SLRs.279.40 generating a total turnover of SLRs.348mn. This included three crossings amounting to 649,900 shares with the prices ranging between SLRs.270.00 to SLRs.280.00.
On Thursday largest turnover was reported on JKH for the second consecutive day where 2.5mn shares traded between SLRs.299.00 and SLRs.300.60. Bairaha Farms continued to be heavily traded with a turnover of SLRs.141mn the counter closing down SLRs.9.90 at SLRs.270.10. Both indices closed up for the second consecutive day with ASPI gaining 55.68 points while MPI picking up by 69.39 points. Total turnover for the day amounted to SLRs.2.24bn.
The eagerly awaited warrants of REEF started trading today. Warrants W0018 and W0019 were reported as the top losers for the day closing respectively at SLRs.11.90 and SLRs.13.20 while the warrant W0017 was closed down at SLRs.13.90. Market closed at 12.00 noon marking a total turnover of SLRs.1.29bn whilst showing an upbeat for the fourth consecutive day with both ASPI and MPI gaining by 46.74 and 10.73 points respectively. JKH which closed up at SLRs.302.50 reported the single largest turnover of SLRs.432mn (34% contribution) which included a crossing of a 1mn shares at SLRs.304. Aitken Spence PLC generated 17% of the turnover and closed down at SLRs.170.20.
During the week, market recovered somewhat from its oversold condition by gaining 3.1%. However historically, market activities during the month of December had been dull due to subdued participation by the investors. Thus we expect the turnover levels to remain modest during the coming week.
source - www.dailymirror.lk
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