The Bourse Weekly Performance (Week-ended 1st
February2013)
|
24th January 2013
|
1st February 2013
|
All Share Price Index
|
5,878.19
|
5,799.69
|
S&P SL20 Index
|
3,190.65
|
3,196.81
|
Total Turnover for the week
|
4,837,826,081/-
|
9,164,244,919/-
|
Total Net Foreign Inflow/ (Outflow)
|
(934,500,213/-)
|
(420,170,951/-)
|
Market Capitalisation
|
2,257,980,391,605/-
|
2,227,911,758,736/-
|
Market PER
|
16.64
|
16.41
|
The Colombo bourse extended
its falls for this week with foreigners exiting the market on profit taking.
The ASI dropped consecutively except on Wednesday while the S&P witnessed
mixed sentiments during the week. The ASI lost a total of 78.5 points along
with a Rs. 30.06Bn loss in Market Cap. However, turnover levels saw a
significant rise because high foreign participation in the market also
encouraged the activity levels of the local investors. The total turnoverwas 89%
greater than previous week and the average daily turnover was 51% higher than
the average daily turnover for 2013 thus far.
Foreigners were seen to be
net sellers, bringing the year to date net foreign outflow to Rs. 873.5Mn. This
week foreign interest was mainly in counters such as Commercial Bank, LOLC,
Sampath Bank and JKH. However, a foreign fund was seen to be exiting the
Commercial Bank counter on profit taking and these shares were bought by eager
local investors. Other counters that were considered interesting this week
were, Hatton National Bank, DFCC, CTC and Nestle.
In sector statistics the
highest contributor for the weekly turnover was the Banking Finance &
Insurance sector with a whopping Rs. 5.4Bn. The next in line was the
Diversified sector which generated a turnover of Rs. 3Bn this week. The highest
gain in sector indices was in the Diversified Holdings sector of 0.57% while
the highest loss was reported in the Trading sector of 5.28%.
The end of the first month
for 2013 saw the Colombo bourse still enjoying marginal year to date gains, as
at end of this week the ASI and Market Cap were2.78% approximately. Though
foreigners are seen to be net sellers, activity levels in the market have been
extremely high and turnover levels have improved immensely. Drastic drops in
interest rates at the weekly T Bill auction is likely to make the Colombo
bourse far more attractive to investors compared to fixed income investments.
Exchange Rates(Week-ended 1st February 2013)
Dollar inflows into rupee
bonds coupled with selling on forward dollar contracts saw the rupee appreciate
during the week to close the week at Rs 126.35/45 in comparison to its previous
weeks closing level of Rs 127.10. The total dollar/rupee volume for the
previous day (31-01-13) was US $ 89.98 million. Given below are some forward
dollar rates that prevailed in the market,
1
Month – 127.28
3 Months- 129.20
6 Months- 131.88