The Bourse Weekly Performance (Week-ended 15thFebruary2013)
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8thFebruary 2013
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15thFebruary 2013
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All Share Price Index
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5,850.67
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5,830.26
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S&P SL20 Index
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3,271.25
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3,274.25
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Total Turnover for the week
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5,103,480,054/-
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3,074,111,871/-
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Total Net Foreign Inflow/ (Outflow)
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(234,054,143/-)
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148,266,122/-
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Market Capitalisation
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2,247,589,101,568/-
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2,239,774,054,377.00
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Market PER
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16.6
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16.5
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Performance levels were seen
to have a downward trend this week at the Colombo bourse. Amidst the
International Monetary Fund (IMF) raising concerns over the economic growth of
Sri Lanka and the Chinese New Year, performance at the Colombo bourse reached
its one-week low levels. The IMF in its statement has warned Sri Lanka of
slower growth, high inflation, and lower tax revenue risks. The Central Bank said on Tuesday that authorities
had decided not to pursue a new loan from the IMF.
Turnover levels continued to
decline over the week and the average daily turnover this week was Rs. 614Million
significantly below the daily average of Rs. 1.12Billion reported so far for
2013. The total turnover was 40% lower than previous week. However, foreign
participation in the market was seen to be positive this week as foreigners
were net buyers on three straight sessions. The main indices closed for the
week with the ASI losing a total of 20 points and the S&P gaining a mere3
points. The drop in the ASI was equivalent to a loss of Rs. 7.81Billion in the
Market Cap.
In sector performances this
week, the highest contribution for the weekly turnover came in from the Banking
Finance & Insurance sector while the best performer and the poorest
performer were Oil Palms (+1.34%) and Chemicals & Pharmaceuticals (-2.93%)
sectors respectively. Banking Finance & Insurance sector counters such as
HNB, Sampath Bank, Commercial Bank and NDB gained notable attention from
investors during the week along with market heavy weight JKH. These shares were
the main contributors to the weekly turnover.
Yields in T-bills fell for
the 10th straight week at the weekly auction on Wednesday, with the 364-day
T-bill rate down to a near one-year low of 11.10%. Analysts and investors
believe, that this situation is likely to reverse in the future if the
government does resort to expensive commercial borrowing
to bridge the budget gap given the inability to raise funds through the IMF.
Under these circumstances Experts advise investors to make informed investment
decisions. The Colombo bourse so far carries year to date gains for 2013 in
both the ASI (3.32%) and the Market Cap(3.33%).
Exchange Rates(Week-ended 15thFebruary 2013)
The rupee depreciated during
the week against its last week’s closing levels of Rs 126.28 to a two week low
of Rs 125.72 yesterday on the back of continued importer demand. The total
USD/LKR traded volume for the previous day (14-02-13) stood at US $ 53.00
million. Given below are some forward dollar rates that prevailed in the
market;
1 Month – 127.55
3 Months- 129.38
6 Months- 132.05
