The Bourse Weekly Performance (Week-ended 27th
September 2013)
Week-ended 20th September 2013
|
Week-ended 27th September 2013
|
|
All Share Price Index
|
5,814.10
|
5,808.62
|
S&P SL20 Index
|
3,217.60
|
3,210.30
|
Total Turnover for the week (Rs.)
|
3,146,276,515/-
|
3,214,899,732/-
|
Total Net Foreign Inflow/ (Outflow) (Rs.)
|
(250,638,612/-)
|
687,835,103.00
|
Market Capitalisation (Rs.)
|
2,394,602,797,442/-
|
2,392,346,681,121/-
|
Market PER
|
16.54
|
In local news, Touchwood was
seen to be rallying following a change in its board of directors and the
announcement made at the AGM. The senior management headed by the then acting
CEO announced that it expects to pay off all its current obligations while
making a speculative statement that it expects the Touchwood share price to
rise to Rs. 15 in the future. Many analysts viewed this as a biased statement,
while the share price fluctuated over 45% on Thursday alone. Subsequently
trading of the share was halted on Friday by CSE, pending disclosure on media
reports.
There was an increase in
foreign interest in the aftermath of the Federal Reserve’s decision last week.
Growing uncertainties on the economic growth in the US economy has resulted in
foreign interest deviating from the western economies and for global investors
to take to the sidelines. Recently Bloomberg reported that “Americans are
losing faith in the nation’s economic recovery even as forecasters expect
growth to accelerate, according to a Bloomberg National Poll”. However, the
weekly performance of the Asia Pacific markets indicated negative market
performance where the Indonesian stock exchange (Jakarta Comp) made the biggest
loss of 3.49% within the previous 5 days. Foreigners were net buyers at the CSE
this week, with a weekly net foreign inflow of Rs. 688 Million.
This week the ASI and
S&P indices lost marginally, where the indices fell 5 and 7 points
respectively. This is equivalent to a Rs. 2 Billion loss in market
capitalization. Though turnover levels remained in line with the previous week,
the highest contributor for the weekly turnover was seen to be Banking Finance
and Insurance sector. The biggest loser this week was seen to be Footwear and
Textile sector while the biggest gainer was the Information Technology sector.
The Colombo bourse currently, generates a year to date gain of 2% in terms of
its ASI.
