The market absorbed the new ASPI calculation method by closing the day with a gain of 0.1% or 12.5 points with the more liquid S&P SL 20 gaining 22 points or 0.5% . The Turnover was the largest since 2021 of 18.4 billion with a massive contribution of 13 billion through a crossing by the largest foreign held shareholder of JKH transferring it’s shares to a more longer-term entity of its own .
The corporate earnings due for the December quarter is expected to be the best ever quarter and therefore the price appreciation of some stocks that have seen keen interest is expected have better valuations post quarterly results and it will also contribute to reduce the overall market PE ratios from current level of approximately 14.5 +.
The stocks to watch will remain the Tile ,Cable , Plantations, exports , Logistics and a little more focus on tourism related well managed counters .
