The Bourse Weekly Performance (Week-ended 17thJanuary
2014)
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|
Week-ended 10thJanuary 2013
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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)
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4,984,575,467
|
4,891,765,220
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|
Total Net Foreign Inflow/ (Outflow) (LKR)
|
440,793,548
|
56,567,898
|
|
Market PER
|
16.38
|
16.60
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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.
