The Bourse Weekly Performance (Week-ended 31stJanuary 2014)

The Bourse Weekly Performance (Week-ended 31^stJanuary 2014)

	Week-ended 24th January 2014	Week-ended 31st January 2014
All Share Price Index	6,255.63	6,248.08
S&P SL20 Index	3,478.09	3,443.25
Total Turnover for the week (LKR)	5,812,624,350	5,338,112,846
Total Net Foreign Inflow/ (Outflow) (LKR)	187,691,236	208,060,607
Market Capitalization	2,602,580,611,621	2,608,268,652,140
Market PER	16.84	16.88
Market PBV	2.07	2.07

Following the announcement by the US Federal Reserve in curbing its monthly bond buying program by a further USD 10 Bn for a second straight month of tapering, Asian stocks plunged notwithstanding the Colombo Bourse as well, to close the week marginally down against last week. The unforeseen interest rate hikes in India, Argentina and Turkey added to the sluggish sentiment in regional markets who are concerned about the weakening of their respective economies which in turn led to volatility in markets.

Furthermore the uncertainties and anxieties that persisted in the local bourse with regard to the mergers and acquisition of Non –Banking Financial Institutions, saw their respective stocks prices fluctuate during the week as retail investors adopted a cautious approach against their bullish sentiment the previous week. The entrance of Amana IPO stocks to the local bourse gave a negative return to the investors as it dipped to Rs. 5.80(-17.14%) on its very first day of trading against its issue price of Rs.7.00.

The benchmark All Share Price Index (ASPI) and the S&P SL 20 indexlost7.55 points and 34.84 points throughout the week to close at 6,248.08 points and3,443.25 respectively.A total of 370.3Mn shares changed hands to record a turnover of LKR 5.3Bn for the week reflecting a drop of 8% in comparison to its previous weeks figure.Out of this, 31.68% had been contributedvia crossings which took place on JKH, JINS, EXPO, COMB, AHUN, CTC, HNB, HNB.X, NDB, SPEN,             LLUB,CINS, NEST and BRWN.

The list of price gainers were led by CFL.N (+32.08%), SFL.N (+27.85%), PARQ.N (+20.00%), ASIR.N (+18.29%) and COCR.N (+18.12%) while the list of price losers were led by GREG.W3 (-25.00%), MORI.N(-22.03%), CLPL.W13(-16.67%), PDL.N(-11.14%) and INDO.N(-10.63%).

Total foreign purchasing of LKR 1.45Bn, out spaced the total foreign selling of LKR 1.25Bn recording a net foreign inflow of LKR 208.06Mn.The market PER and PBV stood at 16.88x and 2.07x respectively by end of the week.

The Bourse Weekly Performance (Week-ended 24thJanuary 2014)

The Bourse Weekly Performance (Week-ended 24^thJanuary 2014)

	Week-ended 17th January 2014	Week-ended 24th January 2014
All Share Price Index	6,131.05	6,255.63
S&P SL20 Index	3,407.94	3,478.09
Total Turnover for the week (LKR)	4,891,765,220	5,812,624,350
Total Net Foreign Inflow/ (Outflow) (LKR)	56,567,898	187,691,236
Market Capitalization	2,550,741,656,288	2,602,580,611,621
Market PER	16.51	16.84
Market PBV	2.03	2.07

The Sri Lanka investment road show held in Singapore this week accompanied with the Central Bank of Sri Lanka’s resilient recommendations to consolidate the Banking and Non- Banking Financial (NBF) sector aimed at forming a robust financial system in the country, continued to create bullish sentiment in the market this week. The prices of listed stocks of Banking and NBF institutions appreciated during the week across the board following this news resulting in the Bank/Finance and Insurance sector index increasing by 371.42 (+2.71%) points to 14,074.72 against its last week’s closing of 13,703.30 points.

The benchmark All Share Price Index (ASPI) gained 124.58 points throughout the week to close at 6,255.63points, whereas the S&P SL 20 index gained 70.15 points to close at 3,478.09 points. Notably both the indices gained 2% throughout the week to halt in green territory. A total of 460.7 Mn shares were changed hands to record a turnover of LKR 5.8Bn. Out of this, 28.40% had been generated through the off market deals which took place on LIOC, COMB, SPEN, JKH, CTC, HNB, HAYL,             LLUB, TAP and LOFC.

The list of price gainers were led by SEMB.N (+66.67%), SEMB.X (+25%), SLND (+23.90%), TFIL(+20.98%) and PMB(+20%) while the list of price losers were led by GREG.W13 (-50.00%), SELI(-17.07%), PCH(-16.67%), HARI(-10.81%) and SHAL(-10.60%).

Foreigners continued to pile into equitiesand ended the week with the total purchasing of LKR 2.03Bn, out spacing the total foreign selling of LKR 1.84Bn.Hence the week recorded a net foreign inflow of LKR 187.7Mn resulting the YTD foreign inflow amounting at LKR 23.22Bn. The market PER and PBV stood at 16.84x and 2.07x respectively by end of the week.

The Bourse Weekly Performance (Week-ended 17thJanuary 2014)

The Bourse Weekly Performance (Week-ended 17^thJanuary 2014)

	Week-ended 10thJanuary 2013	Week-ended 17thJanuary 2014
All Share Price Index	6,083.14	6,131.05
S&P SL20 Index	3,384.51	3,407.94
Total Turnover for the week (LKR)	4,984,575,467	4,891,765,220
Total Net Foreign Inflow/ (Outflow) (LKR)	440,793,548	56,567,898
Market PER	16.38	16.60

As the Wolf of Wall Street hits DVD stores in Colombo this week, The Bulls of Colombo continued their buying frenzy in the local market. Block trades in large cap counters continued as funds piled into the banking sector and the usual suspects such as JKH, NEST, COMB and LLUB etc. The rumor mills continue to work hard in Colombo, churning out fabricated details on the consolidation that is yet to take place in the Non-Banking Financial Institutions (NBFI). These tales encouraged speculators to keep bidding up long lost small cap finance and sandal wood companies.

US market are getting ready for an optimistic earnings season which might eventually increase volatility and crush markets by the much needed 10% correction, it has been waited for. The banking and retail sector disappointed traders this week which put a pause on the bull pedal. 

In Europe the data just continues to disappoint as Germanys economy grew by just 0.4% in 2013 according to a first estimate, the worst showing since the depths of the financial crisis. Feeble exports were a factor.  However better than expected data and bond auctions out of Spain, Ireland and Italy are slowly pushing these markets higher.

Though on Friday both ASPI and S&P closed on a negative note, throughout the shortest week theindices gained 47.91 and 23.43 points respectively to close the week at 6,131.05points and 3,407.94 points.The ASPI hit the intraday high of 6,178.10 points on Friday and were steady above the already broken psychological barrier of 6,000 pointsofASPI.

The week generated a total turnover of LKR 4.89Bn supported by off the marketdeals on JKH, COMB, LOFC,PAP and LLUB.

A total of 275.4 Mn shares changed hands during the week, indicating an increase of 27.39% compared to the previous week. Foreign purchases for the week which amounted to LKR 1.66Bn outpaced the foreign sales of LKR 1.60Bn resulting in a net foreign inflow of LKR 56.56Mn during the week.With this the YTD foreign inflow recorded an amount of LKR 23.03Bn. The market PER and PBV stood at 16.60x and 2.04x respectively by end of the week.