Policy inconsistencies negatively impact bourse

Inconsistencies and uncertainties in government policies are discouraging foreign and local stock market investors from showing an interest in local stocks currently, which resulted in low turnover of Rs 345 million at the CSE yesterday with one crossing.

The ASPI went down by 4.7 pints and S and P SL- 20 by 10.28 points. Cheveron Caltex Lubricant recorded a crossing of 1.1 million shares and the total value of the crossed  shares was Rs 185.9 million.

Under these circumstances, the companies that contributed mainly to the turnover were, Melsta Corps, 317,000 shares contributing  Rs 19 million to the day's turnover, Cheveron Lubricants traded Rs 17.7 million with 113,000  shares and  JKH recorded Rs 12.2 million while trading  86,000 shares. It is also reported that 2,744 trading transactions  took-place during the day.

Meanwhile, JKSB market report said yesterday that the ASPI ended marginally lower amid weak turnover levels. Trading in selected manufacturing, diversified, finance and banking counters led market activity with a crossing in LLUB accounting for 54% of total turnover. Foreign participation resulted in a net inflow of Rs.19mn" ASPI: 6,152.59 down by 2.93 points (-0.05%), S&P-SL20: 3,462.31 down by 8.97 points (-0.26%), Turnover: Rs. 344.46 million. Foreign Purchases: Rs. 226.55 million. Foreign Sales: Rs. 208.05 million. Net Foreign Inflow/(Outflow): Rs. 18.50 million. Most Actively Traded Sector: Manufacturing (-0.90%) Best Performing Sector: Services (+0.93%) Worst Performing Sector: Healthcare  (-1.45%)

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