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CSE Awaits Strong December Quarter results for further Boost

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samaritan

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CSE Awaits Strong December Quarter results for further Boost 100406827-bull-market-ahead-sign.530x298




  • ASPI gained 729 points last week to close at new all-time high of 8,463 points
  • Average turnover hits Rs.12bn; market cap increases by Rs.318 bn to Rs.3.69tn

With a record-breaking week behind, investors at the Colombo Stock Exchange (CSE) are poised for another week of buoyancy beginning from today, with strong December quarter results expected to hit the market. 

The benchmark All Share Price Index (ASPI) of CSE last week gained 729 points or 9.42 percent to close at 8,463 points, setting a new record in the CSE’s 35-year history.


The more liquid S&P SL20 Index also gained 409 points or 14.10 percent during the week to close at 3, 312 points. 


The cumulative turnover for the week topped Rs.60 billion, up 58 percent from the week before while the daily average turnover hit Rs.12 billion compared to Rs.9.5 billion a week ago.


Market capitalization, meanwhile increased by Rs.318 billion to 
Rs.3.69 trillion.


“The local retailer dominance was clear with LOLC Holdings being the highest contributor to the week’s turnover value, with Rs.4.82 billion or 8.04 percent of total turnover value. 


Expo Lanka followed suit with 7.91 percent of turnover (value of Rs.4.75 billion) while Browns Investments contributed Rs.4.52 billion to account for 7.52 percent of the week’s turnover. We saw interchanging ownership between these three retailer favourites,” Acuity Stockbrokers Research said.


They also said retail play continued throughout last week while banks saw a brief resurgence.

“The Capital goods Industry Group was the highest contributor to the week’s total turnover value, accounting for 26.97 percent (or Rs.16.19 billion) of market turnover. Industry Group’s turnover was driven primarily by JKH, HAYL, and AEL, which accounted for 65 percent of the sector’s total turnover,” Acuity Stockbrokers Research said. 

“Banks saw a resurgence catalyzed by the reintroduction of cash dividends. Materials Industry Group contributed 16 percent to the weekly turnover. The Materials Industry Group dominated the market in terms of share volume, accounting for 29.19 percent (or 715.93 million shares) of total volume, with a value contribution of Rs.9.58 billion. 


The Food, Beverage & Tobacco Industry Group followed suit, adding 27.89 percent to total volume (683.90 million shares) while capital goods contributed 11.15 percent (273.54 million shares) to the weekly share volume,” they added.


However, despite local investor bullishness, foreign investors were net sellers during last week with total net outflow amounting to Rs.2.36 billion compared to a net outflow of Rs.615 million a week ago. 


The net foreign outflow as of last Friday stood at Rs.3.9 billion.

http://www.dailymirror.lk/business-news/Stock-market-players-await-strong-December-quarter-results-for-further-boost/273-204415

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Samaritan 
9500 end this week & 10,000 end of month possible?
If this happens 12,500 end February & 15,000 end March possible?
Agree with 2 statements?
Thank You.

judecroos likes this post

Kipling,
Given the present investor sentiment it is possible. For your information i  reliably learnt that some high end apartment owners whose apartments are vacant are trying to sell them and invest in the Stock Market.

Kipling likes this post

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