Friday, July 12, 2013

The Bourse Weekly Performance (Week-ended 12th July 2013)



The Bourse Weekly Performance (Week-ended 12th July 2013)

Week-ended 5th July 2013
Week-ended 12th July 2013
All Share Price Index
6,048.18
6,028.74
S&P SL20 Index
3,383.46
3,385.43
Total Turnover for the week (Rs.)
3,225,751,648/-
1,466,585,143/-
Total Net Foreign Inflow/ (Outflow) (Rs.)
490,215,301/-
126,286,045/-
Market Capitalisation (Rs.)
2,322,779,865,088/-
2,315,425,677,312/-
Market PER
16.3
16.1
The Colombo bourse saw mixed sentiments this week, amidst several key developments such as the volatile domestic currency against the US$ and the announcement made by JKH for a US$650 million deal to build a resort. After experiencing bearish sentiments for 5 straight session’s analysts pointed out that the multi-million dollar project announcement played a key role in boosting the market sentiments in to the green. The market closed on Friday with the ASI losing 19 points and MPI closing at same levels as previous week.
Turnover levels dropped far below the daily average values and experts suggest that fears of possible pull out by foreign investors continue to worry the market. The total turnover reported for this week was 55% below the previous week while the average daily turnover for the week was Rs. 293Mn. The average daily turnover for 2013 which was above Rs. 1Bn since the beginning of the year now stands at Rs. 976Mn. In sector indices the highest contribution for the weekly turnover came in from the Banking Finance & Insurance and Diversified Holdings sectors. Amongst the counters that traded heavily this week were JKH, LIOC. CTC, SAMP, NTB, and COMM, etc. In sector indices, the highest gain was reported in the Services sector while the Stores& Supplies sector reported the highest loss.
On Monday, 8th July the ASI fell below 6000 points to close at 5995 bringing the 14-day Relative Strength Index (RSI) of the Colombo bourse below an over-sold mark of 30 points. However, the latter part of the week saw the Index picking up gradually and is currently at 40. Interpretation of an RSI of 40 still indicates an over-sold situation atthe bourse representing possible potential for a turnaround in the short-run from its current sentiments. As of the 12th of July 2013, the CSE indicates a year to date gain of 6.8% currently with a total gain in market capitalization of Rs. 147.Bn.