The Bourse Weekly Performance (Week-ended 8th
November 2013)
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Week-ended 1st November 2013
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Week-ended 8th November 2013
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All Share Price Index
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5,954.36
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5,855.34
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S&P SL20 Index
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3,280.33
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3,232.50
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Total Turnover for the week (Rs.)
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3,568,955,119/-
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3,538,187,057/-
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Total Net Foreign Inflow/ (Outflow) (Rs.)
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445,407,550/-
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(571,990,652/-)
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Market Capitalisation (Rs.)
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2,476,186,211,350/-
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2,435,043,796,783/-
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Market PER
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15.75
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The week saw most global
markets weaker in terms of their weekly performance while majority of the
losses were reported towards the latter part of the week. Reuter’s reported
that “Investors in U.S. stocks shrugged off the European Central Bank's move to
cut interest rates after a slump in inflation sparked fears the euro zone's
economic recovery could stall. The move reinforced expectations global central
banks will continue to buoy struggling economies”. In Asian markets, Japan’s
Nikkei rose to a 10 month high on Thursday, which analysts believe is because the
Bank of Japan starts a two-day meeting on Wednesday under intense political
pressure to expand its asset-buying programme aggressively to snap the world's
third-biggest economy out of its fourth recession since 2000. Meanwhile, Hong
Kong shares hit two-week trough ahead of China party plenum. The Financial
Times Global Macro Maps indicated that all global markets showed a week to date
negative performance while Indonesia’s Jakarta Comp made the highest positive
weekly performance.
The Colombo bourse showed
bearish sentiments through-out this week, with the ASI reaching over 1
month-low values and the weekly turnover values being at a near 4 month low
levels. The ASI lost a total of 99 points this week equivalent to a loss of Rs.
41Billion in market capitalization. The central bank cut its
policy rates to multi-year low last month. Despite this move and a declining
trend in interest rates analysts explained that this move has failed to surge
market sentiments. Brokers explained that the losses this week were led by blue
chips in low trading volume as concerns over poor earnings dented investor
sentiment along with the absence of retail investors. Further, Foreigner’s were
seen to be net sellers this week.
So far this year, the
Colombo bourse has only made year to date gains of 3%. The ASI has grown 212
points equivalent to Rs. 267Billion in market capitalization.
