However, the main All Share Price Index gained a cumulative 46.51 points on Thursday and Friday, the brokerage noted.
Net foreign outflow for the first time since July this year was also noted with positive inflows later in the week failing to offset a significant outflow of Rs.1.66 billion on Monday, the report said.
Acuity expected the markets to remain subdued this week, the report said.
Approximately 87% of listed companies have reported current year earnings up to September with market earnings up 3.5% year-on-year to Rs.45.6 billion from Rs.44.05 billion a year earlier.
The market price earnings ratio meanwhile has come down 11.7X from 13.09X on November 23, 2011 amidst strong year-on-year growth on earnings reported up to now in several sectors including telecom, beverage, food & tobacco; chemical & pharmaceuticals; hotels & travels; investment trusts; land & property; oil palm; health services; stores & supplies and power & energy.
The report said that Browns investments was the highest contributor to the week’s turnover value contributing Rs.1.96 billion to account for 23.03% of total market turnover. ERI accounted for 26.55% and Distilleries for 9.50%.
Market turnover was up sharply to Rs.6.99 billion from the previous week’s Rs.1.44 billion with daily average turnover at Rs.1.4 billion against the previous week’s Rs.0.36 billion.
John Keells Stockbrokers reported that the market fell sharply on the back of heavy selling pressure centered on large caps with the weekly turnover levels largely driven by foreign participation through crossings on JKH, HNB and Distilleries resulting in a net outflow of Rs.1.1 billion.