The Bourse Weekly Performance (Week-ended 31st
May 2013)
Week-ended 23rd May 2013
|
Week-ended 31st May 2013
|
|
All Share Price Index
|
6,488.85
|
6,463.06
|
S&P SL20 Index
|
3,666.04
|
3,646.32
|
Total Turnover for the week
|
6,201,045,467/-
|
5,441,981,414/-
|
Total Net Foreign Inflow/ (Outflow)
|
1,904,515,120/-
|
573,905,074/-
|
Market Capitalisation
|
2,491,726,828,316/-
|
2,481,835,737,088/-
|
Market PER
|
17.62
|
The Colombo Stock Exchange stabilized
during the week when compared to the mini rally towards the early part of this
month. However, this week, the main indices dipped due to profit taking and the
activity level was seen to be low compared to previous weeks. This week ASI and
S&P lost a total of 25 and 19 points respectively. The loss in the ASI was
equivalent to a loss of Rs. 9.89Bn in Market Cap.
The largest contribution to
the weekly turnover came in on Thursday, 30th (Rs.2.5Bn), when Hemas
Holdings PLC bought a majority stake in pharmaceutical firm J.L. Morison Sons
and Jones (Ceylon) PLC for Rs. 1.05Bn while domestic investors were seen to be mostly
active in retail counters. The deal resulted in the Chemicals and
Pharmaceuticals sector generating the highest turnover this week followed by
Banking Finance & Insurance and Manufacturing sectors. The average daily
turnover this week was Rs. 1.08Bn, marginally above the average daily turnover
reported so far for 2013 of Rs. 1.04Bn. The highest gain this week was marked
in the Land & Property sector while the biggest loser was the Information
Technology sector. Foreign participation remained low this week too and the net
foreign inflow for the week was well below the inflow recorded the previous
weeks. The net foreign inflow for 2013 has now reached Rs. 13.66Bn.
According to the Reuters
reports, the Colombo bourse 14-day Relative Strength Index (RSI) was in
over-bought territory, at 78.252 on Thursday, 30th and has been above the upper neutral level of
70 since 16 April. However, blue-chips such as JKH, Distilleries, Chevron and
several Banking counters were seen to be trading heavily. It is evident that
the slowing down market awaits a clear direction. So far this year the Colombo
bourse has reported an year to date gain of 14.5%.
