The Bourse Weekly Performance (Week-ended 2nd
August 2013)
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Week-ended 26th July 2013
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Week-ended 2nd August 2013
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All Share Price Index
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6,051.77
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6,155.82
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S&P SL20 Index
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3,427.87
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3,490.57
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Total Turnover for the week (Rs.)
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1,393,468,028/-
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4,005,800,509/-
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Total Net Foreign Inflow/ (Outflow) (Rs.)
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295,481,067/-
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(970,643,041/-)
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Market Capitalisation (Rs.)
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2,328,942,078,142/-
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2,368,995,327,315/-
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Market PER
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16.02
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The Colombo bourse closed
for the week with its main share index ASI at its six-week high. The index
gained a total of 104 points while S&P gained 62 points this week. The gain
is equivalent to a growth of 1.72% in market capitalization which increased by
Rs. 40 Billion. Turnover levels for the week were seen to have improved
compared to the previous week while the average daily turnover for the week was
Rs. 801 Million which is acceptable considering an average daily turnover of
Rs. 937 Million reported for the year.
The government increased some
import taxes and excise duties on Thursday, which was considered to be a move
made in order to shore up governments revenue base as a slowing economy and
falling imports hinder its efforts to cut the country’s budget deficit. The
increased duty imposed on tobacco was considered in the positive when CTC
shares touched a lifetime high of Rs 1200.80 during the week. JKH also rose over
2.1% and reached Rs. 266.00.
The highest contribution for
the weekly turnover came in from JKH due to which Diversified Holdings sector
contributed Rs. 1.95 Billion (48%) to the weekly turnover. Plantations sector
also contributed with Rs. 702 Million which is equivalent to 17% of the weekly
turnover mainly generated by trading of the Watawala Plantations counter. Banking
Finance and Insurance sector generated 15% of the weekly turnover mainly
through counters such as Commercial Bank, Sampath Bank and NDB etc. In sector
statistics, Beverage Food and Tobacco sector gained over 9% driven by CTC. The
biggest loser for the week is the Information Technology sector which lost over
3%.
The mini rally which brought
in a slight breather to the bourse this week increased the year-to-date gains
to 9%. However, foreign investors were seen to be capitalizing on this gain to
exit the market as foreigners were net sellers for the week. Market Analysts
pointed out that, even though investors were awaiting clear direction, Central
Bank’s easing of policy measures, concerns over the weakening rupee and high
lending rates have all contributed to the dull sentiments at the CSE.
