The Bourse Weekly Performance (Week-ended 18th January2013)
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11thJanuary 2013
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18th January 2013
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All Share Price Index
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5,746.49
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5,875.77
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S&P SL20 Index
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3,133.87
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3,174.36
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Total Turnover for the week
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3,795,582,364/-
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4,202,795,008/-
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Total Net Foreign Inflow/ (Outflow)
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(115,850,885/-)
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301,233,393/-
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Market Capitalisation
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2,207,359,696,896/-
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2,257,039,130,624/-
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Market PER
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16.3
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16.6
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The Colombo Stock Market
sored with improved turnover and foreign inflows. The main index picked up
momentum and enjoyed a green week before closing at 5875 which is a 2.25% rise
from last weeks close. Index heavy weight shares were traded heavily and the
market PER too has increased significantly this week.
Though the weekly turnover
was marginally above when compared to last week, the average daily turnover for
the week had an increase of over 38%. The top contributors for this week’s
turnover were DIST, JKH, SPEN, HNB, COMB, SAMP, CTC, etc. Foreigners continued
to be bullish buying Rs. 1.9Billion worth of fundamentally sound stocks with
future upside potential and sellingRs. 1.6Billion worth of stocks, bringing the
year-to-date figure of net foreign inflow in 2013 to over Rs. 481Million. In
sector performances the highest contributors for the weekly turnover was
Banking Finance and Insurance followed by Diversified Holdings sector with
revenues of Rs. 1.5Billion and Rs. 930Million respectively. The highest gain in
the sector indices for the week was reported in the Power & Energy sector
(+5.84%) while the only negative performer was the Stores & Supplies sector
(-1.8%).
Some Analysts point out that
local corporates are likely to face aless challenging operating environment in
2013 when compared to 2012. They also suggest that corporates with greater
efficiency, productivity, strong and proven management teams are likely to
generatesuperior returns and value to their shareholders. However, they also
point out that the Colombo bourse is likely to operate at a more discounted PER
when compared to the far greater multipliers it had enjoyed in the past.
Changes in the economic situation in the island, such as declining interest
rate conditions and strengthening of the domestic currency are also likely to
contribute for the better days at the Colombo Bourse. This week the market
capitalization increased by Rs. 49.6Billion. The Colombo bourse has year to
date gains in both the ASI and the Market Cap of 4.1% approximately.
Exchange Rates(Week-ended 18th January2013)
The rupee lost ground by
around 30 cents during the week to close the week at levels of Rs 126.50/55. It
hit a weekly low of Rs 126.75 on the back of importer demand for forward dollar
contracts. The total dollar/rupee volume for the previous day (17-01-13) was US
$ 47.85 million. Given below are some forward dollar rates that prevailed in
the market, 1 Month – 127.55
3 Months- 129.44
6 Months- 131.90.
