Market lost ground on early trading before picking up towards the latter part of the week to close marginally higher Week on Week (WoW). Early price dips due to mixed earnings results paved the way for higher investor attention towards the last two days of the week on selected stocks.

The ASPI (All Share Price Index) closed the week at 2,529.5 points up by 3.8 points or 0.2% compared to the last week, while the MPI (Milanka Price Index) increased by 52.4 points or 1.9% to close the week at 2,890.8 points.

JKH managed to retain its position as the biggest contributor to the week’s turnover, injecting Rs.231.0 million during the week. However the share fell to a low of Rs.133.00 during the week although it picked up to close the week at Rs.134.75 per share, showing a WoW decline of 0.7%. In total, 1.7 million JKH shares traded for the week with the bulk coming on Tuesday.

Renewed interest was seen on Hotel Services (SERV) this week with a considerable quantity changing hands on Friday. The hotel counter appreciated by 3.0% WoW to close at Rs.17.25 per share after trading within a range of Rs.16.00 and Rs.17.50 during the week. Around 9.7 million of SERV shares traded for the week contributing Rs.155.8 million towards weekly turnover.

Ceylinco Insurance (CINS) saw its share price gaining 2.6% this week to close at Rs.205.00. Approximately 0.4 million CINS shares traded for the week with price touching a high of Rs.220.00. During the week counter posted a turnover of Rs.83.0 million with the bulk amounting to Rs.70.0 million coming on Thursday alone.

Heavy investor interest on Environmental Resources (GREG) was particularly seen towards the latter part of this week. Overall, 2.2 million GREG shares traded during the week. The counter was the top gainer for the week, with its share price appreciating by a sizable 43.4% WoW. During the week the share touched a high of Rs.38.50 and a low of Rs.27.00 per share, contributing Rs.75.0 million towards weekly turnover.

Activity levels declined notably this week by 48.6% compared to last week with turnover totaling Rs.1.3 billion for the week. The daily average turnover stood at Rs.335.4 million compared to Rs.522.2 million recorded last week. Meanwhile, foreign participation remained slightly low this week standing at 25.6% of total activity compared to 28.9% posted during last week. Both foreign purchases and foreign sales were below levels witnessed last week.

Foreign purchases for the week amounted to Rs.317.3 million declining by 58.5% compared to last week, while foreign sales witnessed a 50.5% drop this week to Rs.368.3 million. Accordingly the net foreign outflow this week amounted to Rs.51.0 million.