The Bourse Weekly Performance (Week-ended 5th
July 2013)
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Week-ended 28th June 2013
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Week-ended 5th July 2013
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All Share Price Index
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6,121.01
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6,048.18
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S&P SL20 Index
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3,431.74
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3,383.46
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Total Turnover for the week (Rs.)
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4,501,432,990/-
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3,225,751,648/-
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Total Net Foreign Inflow/ (Outflow) (Rs.)
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(1,026,617,344/-)
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490,215,301/-
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Market Capitalisation (Rs.)
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2,350,744,338,432/-
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2,322,779,865,088/-
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Market PER
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16.6
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The early part of the week
indicated that investors at the Colombo Stock Exchange were seen to be looking
for direction, and the market indices reported marginal gains. However, the
bourse, led by blue-chips such as John Keells Holdings, Carsons Cumberbatch,
Aitken Spence Holdings, Sri Lanka Telecom and Cargills Ceylon lost ground, towards
the latter part of the week. Analysts
pointed out that investor concerns over the weakening of the rupee, and worries
that foreign outflows from government securities could spread to equities may
have resulted in the growth in losses. Moody’s cut its credit rating outlook
for Sri Lanka from positive to stable on Tuesday, also seem to be adding to the
bearish sentiment. However, foreigners were seen to be net buyers throughout
the week except on Tuesday.
Colombo Bourse made 1.19%
losses, this week equivalent to Rs. 27.9Bn in Market Cap. The ASI and S&P
lost a total of 72 and 48 points respectively. Turnover levels continued to be
dull and significantly below the daily averages reported so far. The average
daily turnover for 2013 is currently Rs. 1.04Bn, while the average daily
turnover reported this week was Rs. 645.1Mn. Nearly 50% of the weekly turnover
was contributed by the Banking Finance and Insurance sector where counters such
as Commercial Bank, Nations Trust Bank, Sampath Bank and HNB traded heavily. Diversified
Holdings (15%), Manufacturing (13%) and Motors (7%) sectors were the other
significant contributors to the weekly turnover. All sector indices reported
losses for the week except the Beverage Food & Tobacco, Motors and
Information Technology. The highest loss was reported in the Plantations sector
(-4.69%).
The bearish sentiments at
the Colombo bourse have dragged its gains down drastically over the previous
months. The bourse currently records a year to date gain of 7% with a trailing
PER of 16.3X. The total gain in market cap for the year is Rs. 155Bn.
