The Bourse Weekly Performance (Week-ended 23rd
August 2013)
|
Week-ended 16th August 2013
|
Week-ended 23rd August 2013
|
All Share Price Index
|
6,233.21
|
5,951.83
|
S&P SL20 Index
|
3,491.55
|
3,342.96
|
Total Turnover for the week (Rs.)
|
3,964,732,407/-
|
3,715,349,258/-
|
Total Net Foreign Inflow/ (Outflow) (Rs.)
|
988,800,070/-
|
1,021,289,824/-
|
Market Capitalisation (Rs.)
|
2,567,268,096,981/-
|
2,451,390,332,928/-
|
Market PER
|
17.65
|
Investor sentiments were
dented this week at the Colombo bourse due to concerns over rupee volatility and
earning fears as pointed out by many analysts. The total market declined 4.51%
in ASPI and in market cap. The ASPI fell and closed below the psychological
threshold of 6000 points on the last trading day of the week.
Net foreign buying for the
year surpassed Rs. 18 Million this week. Foreign interest was seen in Banking
Finance and Insurance sector counters such as Sampath Bank, Commercial Bank,
HNB, Diversified Holdings sector counters such as JKH, SPEN along with CTC. These
two favorite sectors together contributed for 87% of the weekly turnover which
was en par with the turnover generated the previous week. This week the Colombo
bourse maintained its average daily turnover of Rs. 920 Million. All sectors
recorded losses for the week except the Information Technology and Oil Palms
sectors while the biggest loser for the week was the Beverage Food and Tobacco
sector as CTC closed 18.5% lower than its close for the previous week.
Experts explain the changing
global conditions in the world economy are a significant contributor to the
negativity building up at the bourse. Reuters reported that the US bond yields
were seen to be rising backed by tapering of the US stimulation programme soon
creating an appetite to buy US assets. Reports indicated that most Asian stock
markets and currencies are likely to be hit hard after the Fed Reserve policy
meeting held Thursday. As suggested in reports, many Asian stock markets such
as Jakarta, Comp (-8%), Straits Times (-3%), S&P CNX Nifty (-0.6%) were
seen to decline this week fuelled by the rising dollar and US monetary policy
changes. MSCI benchmark indices were all seen to be in the red, thus justifying
the Rs. 115 Billion loss in market cap for the week at the Colombo bourse. CSE
still managed to generate year to date gains which have now fallen to single
digit figures, 5% in ASPI and 8% in market cap.