The Bourse Weekly Performance (Week-ended 20th
September 2013)
Week-ended 13th September 2013
|
Week-ended 20th September 2013
|
|
All Share Price Index
|
5,749.46
|
5,814.10
|
S&P SL20 Index
|
3,176.74
|
3,217.60
|
Total Turnover for the week (Rs.)
|
3,494,289,658/-
|
3,146,276,515/-
|
Total Net Foreign Inflow/ (Outflow) (Rs.)
|
874,827,901/-
|
(250,638,612/-)
|
Market Capitalisation (Rs.)
|
2,368,050,552,133/-
|
2,394,602,797,442/-
|
Market PER
|
16.35
|
The early part of the week
saw the Colombo bourse dipping once again and reaching its one-week low levels.
However, it opened trading on Friday following the poya-holiday with new
interest and with the news of the decision by the US Federal Reserve to not to taper
the stimulus programme. This latest development revitalized an if not dull
bourse and the mini rally on Friday, saw a gain of 106 points in terms of the
ASPI.
Until the announcement of
the decision by the US Federal Reserve on Wednesday, global Financial Analysts
and investors anticipated a cut to the US Stimulus programme, which resulted in
a significant decline in the emerging/ Asian markets as well as the drain out
of foreign funds from these economies. Financial Times reported that the spillover
effect of such a move would likely be detrimental to some Asian economies.
However, surprising the expectations the Federal Reserve decided to continue
the stimulus programme explaining it waits for more evidence of solid economic
growth. As per Reuters recent reports, world shares steadied at a five-year
high on Friday and bond and commodity markets were consolidating a week of
major gains after the U.S. Federal Reserve's shock decision. This move was
welcomed by analysts and investors in the domestic market, indicating that it
would have a positive impact on the Colombo Bourse and its blue chip counters
as well as the LKR.
The positive close for an
eventful week saw the ASPI and S&P indices gaining 64 and 40 points
respectively. This is equivalent to Rs. 26.5 Billion growth in market Cap. The
turnover levels remained low this week. Though the latter part of the week saw
foreigners being net buyers, the doubtful expectations during the early part of
the week resulted in a net foreign outflow. The largest contribution for the
weekly turnover came in from Diversified Holdings sector driven by JKH. Over 8
Million shares of JKH traded this week and the share closed on Friday at Rs.
218/-. The biggest gain in sector indices for the week was reported in the Stores
and Supplies sector while the biggest loser was the Beverage Food and Tobacco
sector.
The Colombo bourse currently
records very low year to date returns at 3% in terms of ASPI. However, analysts
are hopeful that the recent developments in the global markets would result in
improved market sentiments.
