Market sentiment remained mixed this week as investors cautiously awaited third quarter earnings announcements. Although slight support for the indices was witnessed on Wednesday, the overall market trend remained down for the second consecutive week.

The All Share Price Index closed the week at 2,976.9 points, down by a sizable 79.7 points or 2.6%, while the Milanka Price Index closed at 3,333.8 points declining by 100.2 points or 2.92%.

The blue chip JKH led market activity for yet another week with a contribution amounting to Rs.136.2 million, reflecting 10.3% of market turnover. The conglomerate saw close to 0.9 million of its shares traded during the week with share price down slight 1.7% week on week to close at Rs.142.00 per share. During the week JKH traded at a high of Rs.145.00 and a low of Rs.141.00 per share.

Banking sector counter Seylan Bank (Non Voting) remained a favorite pick among investors yet again this week with 7.6 million shares changing hands. The counter contributed Rs.132.3 million towards weekly turnover with bulk of the turnover coming during the first two trading days of the week. The share price showed a modest improvement week-on-week to close at Rs.17.75 per share, up by 2.9%, while trading within a narrow range of Rs.17.00 and Rs.17.75 per share during the week.

Asiri Hospitals observed a significant jump in price on Friday with the counter appreciating by 25.4% on the last trading session alone.

The noteworthy rise in the share price came on the back of the announcement of a 10 for one share split by the company. Asiri saw 0.2 million shares trading this week while contributing Rs.20.0 million towards weekly turnover. The counter closed at Rs.88.75 per share on Friday after trading within a wide range of Rs.69.00 and Rs.95.00 per share over the week.

Renewed interest was also seen on Aitken Spence (SPEN) this week with approximately 48,500 shares trading. However, the counter dipped 1.1% compared to last week to close at Rs.890.00 per share on Friday, contributing Rs.43.3 million towards weekly turnover.

The drop in indices came amid low activity levels as the overall weekly activity fell by 60% compared to last week to stand at Rs.1.3 billion. The average daily turnover for the week amounted to Rs.264.0 million.

Foreign participation continued to remain low at 15.6% of total market activity this week; however foreigners were on the buying side with a marginal net inflow of Rs.5.7 million.

Volume wise highest traded stocks for the week were, Vallibel, Sierra Cables, Seylan Bank (Non Voting) and Tess Agro.