The Bourse Weekly Performance (Week-ended 26th
July 2013)
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Week-ended 19th July 2013
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Week-ended 26th July 2013
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All Share Price Index
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6,041.06
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6,051.77
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S&P SL20 Index
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3,409.16
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3,427.87
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Total Turnover for the week (Rs.)
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2,754,756,167/-
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1,393,468,028/-
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Total Net Foreign Inflow/ (Outflow) (Rs.)
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860,216,272/-
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295,481,067/-
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Market Capitalisation (Rs.)
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2,324,809,138,238/-
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2,328,942,078,142/-
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Market PER
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16.08
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Mixed sentiments were
witnessed this week while the main indices of the market closed week-to-date in
the green (marginally). However, turnover levels remained considerably dull
while foreign interest in the Colombo bourse remained through net buying.
Following the monthly meeting of the policy makers, CBSL announced the interest
rates would remain unchanged with the expectation that inflation would remain
in single digits for the rest of the year supported by supply side improvements
and an absence of demand-driven pressures. Despite such assurances from the
Bank, sentiments remained sluggish mainly due to concerns over the weakening
rupee and high lending rates while investors waited for clear direction through
the market.
Capitalising on the
weakening rupee, foreign investors are seen to be net buyers. The sentiments of
the local investors seemed scattered and looking for direction for short-term
market opportunities. Some experts were found commenting that, given the nature
of the Sri Lankan economy with not much structural problems foreigners are
finding it rather difficult to avoid some of the most resilient stocks in the
region. The year-to-date net buying made by foreigners so far currently stands
at Rs. 16.94 Billion.
The week saw the Colombo
bourse gain Rs. 4.13Billion in Market Capitalisation with an average daily
turnover of Rs. 348.3Million. However, the daily turnover levels in the current
bourse have been rather dull and below the average daily turnover reported for
the year of Rs. 942.4 Million. Blue-chip counters heavily contributed to the
bearish sentiments during the week and counters such as JKH, CTC, SPEN, HNB,
DIAL were seen to have traded in large numbers. In sector statistics this week,
Power & Energy sector marked the biggest gain while the Chemicals &
Pharmaceuticals was the biggest loser. As of the close of this week, the
Colombo bourse reports year-to-date gains of 7%.
