The Bourse Weekly Performance (Week-ended 24th
January2013)
18thJanuary 2013
|
24th January 2013
|
|
All Share Price Index
|
5,875.77
|
5,878.19
|
S&P SL20 Index
|
3,174.36
|
3,190.65
|
Total Turnover for the week
|
4,202,795,008/-
|
4,837,826,081/-
|
Total Net Foreign Inflow/ (Outflow)
|
301,233,393/-
|
(934,500,213/-)
|
Market Capitalisation
|
2,257,039,130,624/-
|
2,257,980,391,605/-
|
Market PER
|
16.6
|
16.64
|
The Colombo Bourse witnessed
mixed sentiments this week with indices moving in the green and the red. The
main market index closed for the week nearly unchanged while the S&P closed
up 16 points which is a 0.51% change from last week. The market was seen to be
sliding mostly over foreign selling and in correction of its 3 month high
level. As per Reuter’s reports, the bourse has been overbought since early this
year with its 14-day relative index at 80.448 on Monday, well above the upper
neutral range of 70.
The total turnover as well
as the average daily turnover for the week was marginally higher than the
previous week (15%). This week was yet another holiday shortened week, which
saw foreign inflows for the year taking a negative. As at the close of this
week foreigners were seen to be net sellers for the year with a year to date
Net foreign outflow of Rs.453.3 Million.
Top turnover generators for
this week were Commercial Bank, HNB, Nestle, John Keells Holdings, etc. The
highest contribution for the weekly turnover came in from the Banking Finance
and Insurance sector with a turnover of over Rs.2.3 Billion mostly generated
through trades on Commercial Bank. In sector indices, the highest gain was
reported in the Stores & Supplies sector (+3.36%) while the poorest
performer was the Power & Energy sector (-3.78%).
The Colombo Boursemarket
index has gained nearly 1,000 points from its bottom in 2011. The growth in
corporate earnings and the dip in the index have maintained the bourse at
attractive valuations. Analysts believe
that despite the 1,000 point gain, the attractiveness of market still remains
intact as it trades at 10x FY14E earnings. So far this year, the bourse is
reporting year to date gains in terms of the ASI & the Market Cap 4.17% as
at the close of this week.
