|Uncertainty causes declines
With parliamentary elections just two days away, investors seemed to be uncertain of a clear outcome of the results. This caused many retailers to sell-out, resulting in a drop in both indices. However, market turnover continued to remain active, totalling Rs 145.7 million.
JKH was the most significant contributor to the days turnover, accounting for 25% of that figure. Other major contributions came from NDB, DFCC, Asia Capital, Commercial Bank (non-voting) and Asian Hotel shares. JKH and Asia Capital shares were the main contributors in foreign sales.
Sectorally, there were as many as nine sector indices that came down on Monday , with the construction and engineering and services sectors leading the way. There were only four sector indices that picked up during the day. (Bartleet Mallory Stockbrokers (Pvt.) Ltd).
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