Monday, December 24, 2012

Health Care sector dominates market turnover

The main ASPI declined marginally over the week losing 6.23 points (or 0.11%) to close the week at 5516.49 points.

The MPI meanwhile followed suit declining a marginal 0.01% (or 0.62 points) to close the week at 5044.58 points. The S&P SL 20 Index in contrast, gained 0.38% W-o-W by a cumulative 11.45 points to end the week at 3034.24 points.

The highest contribution to this week's turnover value was courtesy of Asiri Central Hospitals which accounted for 34.09% of the total market turnover amid a large crossing of LKR 1.83bn on Tuesday.

JKH too aided this week's improved turnover with crossings worth LKR 1.06bn helping account for 19.87% of total market turnover. Commercial Bank was also amongst the top contributors to this week's turnover, adding LKR 570.65mn and accounting for 10.65% of total market turnover.

Turnover value for the week amounted to LKR 5.36bn, a 95.71% increase from last week's turnover value of LKR 2.74bn.

The daily turnover value in turn increased from 547.35mn last week to LKR 1.07bn. Market Capitalization however declined marginally over the week (-0.05% or LKR 962.92mn) closing the week at LKR 2119.47bn compared to last week's market capitalization of LKR 2120.4bn
The Health Care sector dominated the market's turnover value for the week, accounting for 41.29% (or LKR 2.21bn) of the market with Asiri Central Hospitals accounting for the majority (82.56%) of the sector's total contribution.

The second largest contribution to the week's turnover value was by the Diversified sector which accounted for LKR 1.17bn (or 21.93%) of total market turnover value. The Banking and Finance sector's contribution to the total market turnover meanwhile amounted to LKR 994.22 (or 18.56%).

The Health Care sector also led the highest contribution in terms of share volume, with 47.99mn shares trading over the week to account for 36.84% of total market volume.

The Banking and Finance sector accounted for 14.12% or 18.40mn shares while 16.94mn shares changed hands in the Telecom sector (13.00% of total market volume).

Harischandra Mills recorded the highest price gain over the week, closing at LKR 2499.50, relative to last week's price of LKR 2010.10 to represent a 24.35% gain. Namunukula Plantations recorded a 15.61% gain to close at LKR 82.20, while Kotagala Plantations closed the week at LKR 75.30, representing a weekly gain of 13.40%.

Asian Alliance Insurance and Mackwoods Energy were also amongst the top price gainers, recording 12.80% and 11.61% over the week. The price losers for the week was led by Miramar Beach Hotel, which declined 17.86% to close at LKR 80.50, relative to last week's close of LKR 98.00. Tea Smallholders declined 14.14% to close at LKR 42.50 while Shalimar closed down 14.12% at LKR 900.00.

Foreign investors closed the week in a net buying position of LKR 1.19bn relative to a last week's net buying position of LKR 0.18bn (565.82% W-o-W ), as average daily net inflows amounted to LKR 238.16mn compared to last week's daily average net inflow of LKR 35.77mn.

Total foreign purchases increased 62.07% (W-o-W) to LKR 2.24bn (relative to last week's total of LKR 1.38bn) while total foreign sales decreased 12.87% (W-o-W) to LKR 1.05bn (from last week's total of LKR 1.20bn). In terms of both volume and value, JKH and Chevron led foreign purchases, while Tokyo Cement and Commercial Bank led foreign sales.

GDP for Q3 2012 was the lowest recorded since Q3 2009, with Y-o-Y growth for the quarter at 4.8%, relative to 6.4% in Q2 2012 and 7.9% in Q1 2012.

Growth was dampened by slower growth in the main Services sector (4.6% Y-o-Y relative to 5.8% in Q1 2012) and negative growth (-0.10% Y-o-Y) in the Agricultural sector.

The Industry sector too indicated slower growth, recording 7.3% Y-o-Y growth in Q3 2012 relative to 9.5% Y-o-Y in the previous quarter.

The Central Bank2 consequently lowered its 2012 GDP growth forecast to 6.5% from 6.8% previously.

source -

No comments: