The stock market fell for the second consecutive market day, making consecutive daily turnovers of under Rs one billion after a 134 day hiatus due to a ‘sustained’ mix of uncertainty and the Federal Reserve System raising its Federal Funds Rate by 25 basis points last week.
The stock market made a Rs 871.03 million turnover yesterday, falling to a 90 day low, with the benchmark ASPI today over the previous day Monday falling steeply by 1.42 per cent to 9,285.21 points, a 27 day low and the more sensitive S&P SL 20 Index declining by 0.81 per cent to 2.656.30 points, a 41 day low on a 43.97 million share volume (SV), an 18 day low, respectively.
The last time that the ASPI recorded a lower figure than that of yesterday was 27 days ago on 1 March 2023 with a value of 9,222.68 points. The last time that the S&P SL 20 Index recorded a lower figure than that of yesterday was 41 days ago on 15 February 2023 with a value of 2,644.74 points. Further, prior to yesterday, the last time that the stock market registered consecutive daily turnovers of under Rs one billion was 134 days ago, when on Friday 11 November 2022 and Monday 14 November 2022, it registered daily turnovers of Rs 862.05 million and Rs 941.09 million respectively.
Prior to yesterday, the last time that the stock market registered at least consecutive daily SVs of under 50 million was 46 days ago, where for three consecutive working days, from 8 February to 10 February 2023, the bourse registered daily SVs of 43.21 million, 44.55 million and 40.28 million, respectively. On the previous day Monday the stock market made Rs 871.03 million turnover on a 45.44 million SV. However, the stock market witnessed a parsimonious net foreign inflow (NFI) for the second consecutive market day to yesterday, this time a value of Rs 15.18 million, thereby increasing NFIs in the calendar year to date to Rs 3.25 billion.