The Bourse Weekly Performance (Week-ended 28th June 2013)

The Bourse Weekly Performance (Week-ended 28^th June 2013)

	Week-ended 21st June 2013	Week-ended 28th June 2013
All Share Price Index	6,155.27	6,121.01
S&P SL20 Index	3,466.57	3,431.74
Total Turnover for the week (Rs.)	4,986,529,301/-	4,501,432,990/-
Total Net Foreign Inflow/ (Outflow) (Rs.)	171,867,177/-	(1,026,617,344/-)
Market Capitalisation (Rs.)	2,363,898,447,478/-	2,350,744,338,432/-
Market PER	16.71	16.6

The losing streak at the Colombo bourse continued this week before experiencing a marginal come back towards the latter part of the week. Final day of trading saw the Automated Trading System of the CSE experiencing some technical issues, due to which the market operated only for two hours. The main contributors for the weekly turnover this week were several major crossings in counters such as John Keells Holdings, Nanda Investment & Finance, Commercial Bank, Sampath Bank, Lanka Tiles, Ceylon Tobacco and Lion Brewery. Many analysts pointed out that the global market situation has resulted in foreign investors exiting the Asian markets and the highest weekly net foreign outflow was reported for 2013 this week with an outflow surpassing Rs. 1Bn.

Banking Finance & Insurance and Diversified Holdings sectors contributed for 86.14% of the weekly turnover. Sector indices saw mixed sentiments during the week, where the highest gain for the week was reported in the Footwear and Textile (+4.5%) sector, while the highest loss was reported in the Information Technology (-28%) sector. This week the Colombo bourse lost 0.56% in market capitalization. The ASI and S&P lost 34 points each before the indices closed for the week at 6121 and 3431 respectively.

Year to date results of the Colombo bourse indicate gains of 8.47%, 11.23% and 8.45% in terms of the ASI, S&P and Market Cap. The market has generated a total of Rs. 120.27Bn in turnover this year with an average daily turnover of Rs. 1.01Bn. The net foreign inflow for the year so far is Rs. 15.17Bn. The Colombo bourse closed trading on Friday with a trailing PER of 16.6X which is 4% higher than the closing PER reported on the 31^st of December 2012 (15.93X). With changing economic conditions across the globe investors and analysts at the bourse are seen to be observers from the sidelines. However, experts suggest that the current sentiment is a temporary set-back and the market may pick-up after a brief correction.