The Bourse Weekly Performance (Week-ended 1st
November 2013)
Week-ended 25th October 2013
|
Week-ended 1st November 2013
|
|
All Share Price Index
|
5,948.75
|
5,954.36
|
S&P SL20 Index
|
3,280.48
|
3,280.33
|
Total Turnover for the week (Rs.)
|
4,508,373,529/-
|
3,568,955,119/-
|
Total Net Foreign Inflow/ (Outflow) (Rs.)
|
674,658,149/-
|
445,407,550/-
|
Market Capitalisation (Rs.)
|
2,473,757,468,353/-
|
2,476,186,211,350/-
|
Market PER
|
15.97
|
The Colombo Bourse opened this
week on a negative note with foreigner’s recording significant outflows on
Monday and Tuesday. However, the ASI picked up momentum gradually during the
course of the week before closing for the week nearly flat from the previous week.
Meanwhile, The Financial Times Global Macro map indicated mix sentiments across
global markets, with most emerging markets recording gains over the past 5
days. However, Indonesian stock exchange Jakarta Comp indicated a drop of 3.24%
for the week.
Reuter’s reported that
growing concern’s were seen in the western markets as “the euro fell to a
two-week low against the dollar on Friday, extending losses into a fifth
straight session as slowing euro zone inflation bolstered expectations of
looser monetary policy from the European Central Bank”. The report continued to
state that “In contrast to the euro zone, U.S. data was far more encouraging”
as a recent survey suggested that “data kept alive speculation the Federal
Reserve may scale back stimulus at its December meeting, though many still tip
March as the likeliest window for a move”. Reuter’s also reported that “European
shares gave up early gains to turn lower on Friday, led by Royal Bank of
Scotland after it said it would create an internal "bad bank" to
manage the run-down of its riskiest assets. The stock fell 3.8 percent to lead
fallers in both the FTSE 100 and pan-European FTSEurofirst 300 in heavy
volume”.
At the Colombo bourse, JKH,
which has been raising $ 299 Million through a Rights Issue coupled with warrants,
said its Rights Issue was substantially oversubscribed by the 25th
October. The losses during the early part of the week were because of thin-trade
in large caps and continued foreign outflow. Further stockbrokers were quoted
that the market would see sustained gains only after retail investor’s return. With
the active participation of foreign and local investors the bourse turned positive
on Wednesday. A recent market report indicated that “With several of the stocks
currently trading on attractive valuations, little excuse is seen for bottom-up
investors to enter the market and advise them to however restrict their
exposure to quality positions. The window to invest is now open for those
willing to choose an alpha driven approach. In this respect, stock selectivity
will determine the winners from the losers”. The Colombo bourse currently makes
a year to date gain of 5.52% in ASI, while the net foreign inflow for the year
so far is Rs. 23.26 Billion.
