The Bourse Weekly Performance (Week-ended 16th
August 2013)
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|
Week-ended 8th August 2013
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Week-ended 16th August 2013
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|
All Share Price Index
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6,151.92
|
6,233.21
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|
S&P SL20 Index
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3,470.16
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3,491.55
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Total Turnover for the week (Rs.)
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1,830,598,700/-
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3,964,732,407/-
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Total Net Foreign Inflow/ (Outflow) (Rs.)
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362,432,830/-
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988,800,070/-
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Market Capitalisation (Rs.)
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2,367,495,396,561/-
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2,567,268,096,981/-
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Market PER
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16.28
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This week the Colombo bourse
gained 81 and 21 points in terms of the ASI and S&P indices respectively
equivalent to 1.32% and 0.62%. CTC being setting the record of being the most
valuable listed corporate in the country drove the market to its highest close
since 12th June 2013. The total gain in market capitalization is Rs.
199.72 Billion for the week ended 16th Aug 2013 creating a year to
date return of 18% in market cap. CTC surpassed JKH which was considered the
market valuable listed company when its market cap increased by Rs. 31Billion
(approx.) for the week.
Turnover levels increased
backed by foreign interest, who were seen to be net buyers contributing Rs.
17.3 Billion year to date. However, the
average daily turnover this week failed to reach Rs. 919Million reported for the
year. Though foreign buying and increase in CTC market cap was seen to be
driving an if not a dull market, brokers indicate that the trend is unlikely to
sustain to the future, given the absence of retail interest. Regardless of the
interest seen in CTC, Banking Finance and Insurance and Diversified Holdings
sectors, contributed for 76% of the weekly turnover. The Beverage Food and
Tobacco sector was seen to have achieved a weekly gain of 7% while the highest
loss of 10% was once again in the Information Technology sector.
On Thursday, CBSL announced
that policy rates would remain unchanged while the weekly Treasury bill auction
saw the average yields drop by only 1-3bps across all maturities. Investors
continue to watch the market in anticipation of a possible direction in the
midst of rising concerns.
