MARKET
Market drops slightly
The market dropped slightly with both the ASPI and MPI recording a
week on week losses to close at 6751.29 and 6152.23, respectively. The
ASPI decreased by 1.37% and the MPI decreased by 0.93%.
The weekly turnover value recorded an 11.45% decrease to Rs 8.61
billion, amounting to a daily average value of Rs 1.72 billion, when
compared with last week's daily average turnover of Rs 1.95 billion.
Grain Elevators, East West and Orient Garments accounted for 27.09% of
the week's total turnover value. The number of shares traded decreased
by 23.3%, averaging 85.09 million shares traded daily as against 110.94
million traded last week.
The Manufacturing sector led the turnover in value this week,
accounting for 31.5% of turnover in value amounting to Rs 2.71 billion.
The Banking and Finance sector was the second highest contributor to
turnover, accounting for 14.0% amounting to Rs 1.20 billion. Third
highest on the turnover value list was the Diversified sector with 13.7%
or Rs 1.18 billion.
Volume of turnover for the week was dominated by the Manufacturing
sector with 152.1 million shares being traded or 34.74% of volume of
turnover. The Banking and Finance sector followed, representing 15.21%
of total turnover volume, or 64.73 million shares traded.
Third highest contributor to turnover volume was the Land and
Property sector, which accounted for 15.11% or 64.27 million shares.
Market capitalization as at close was Rs 2411.64 billion recording a
loss of 1.4% or Rs 33.06 billion in value as against last week's close.
Eastern Merchants was the major price gainer with a 221.9% increase
this week to close at Rs 3025.9 from last week's closing price of Rs
940.
East West was the second largest price gainer, recording a 69.8%
increase to close at Rs 23.6 from Rs 13.9. Harischandra Mills gained
52.6% from its previous price of Rs 1900 to close at Rs 2900.
Singalanka was the major price loser over the week, declining 28.8%
to close at Rs 1559.6.
Guardian Capital and Horana Plantations Plc were also major losers
with Guardian Capital decreasing 16.3% to Rs 173.9 and Horana
Plantations Plc declining 13.4% to close at Rs 58.3. Lake House Printing
and Riverrina Hotels declined 13.2% and 13.0% respectively.
Foreign investors remained net sellers closing the week with a net
selling position amounting to Rs 546.08 million, relative to last week's
net selling position of Rs 531.68 million. Foreign purchases for the
week total to Rs 478.3 million as against Rs 526.9 million recorded last
week.
Blue Diamonds topped the volume list recording 61.87 million shares
changing hands representing 14.54% of the aggregate share volume. East
West contributed 8.99% of aggregate share volume with 38.24 million
shares changing hands.
Point of view
Negative retail sentiment dominated markets with the bourse recording
a steady, albeit marginal, decline over the week. Corporate earnings
though strong, failed to negate the losses witnessed in the market.
Quarterly earnings to date from the Banking and Finance sector, Chemical
and Pharmaceutical sector, Food and Beverages sector and Hotels and
Travel sector were all positive; Plantations sector earnings however
were mostly negative.
The SEC commissioner's decision over the broker credit request is
likely to dominate market sentiment over the week ahead. Strong
corporate earnings are also likely to continue flowing in over the week.
Despite the short-term volatility in markets, valuations on
fundamentally sound stocks with earnings potential offer attractive
investment opportunities at the current price levels especially as the
market PER at close on Friday was 20.9x relative to this year's peak in
February of 21.1. Acuity Stockbrokers Research
CICRA launches Certified Ethical Hacker training
CICRA Institute of Education launched the internationally acclaimed
cutting-edge Certified Ethical Hacker (CEH) training programme in
Colombo. The five day training programme is part of CICRA's objective to
arm Sri Lankan corporates against raising wave of cybercrimes worldwide.
The ongoing training is conducted by an international trainer
accredited by US based International Council of E-Commerce Consultants
(E-C Council). Participants of this training programme will receive CEH
qualification from the E-C Council after completing an extensive
examination.
CICRA has been accredited to train cyber soldiers to fight against
newest forms of cyber terrorism that could cripple national security
interests and corporate network structure following a partnership with
E-C Council, which in turn has been endorsed by US Defence Department
and the National Security Agency (NSA).
Under this partnership, CICRA will retain EC-Council accredited
international trainers to coach and certify individuals in the specific
network security discipline including security officers, auditors,
security professionals, site administrators, and anyone who is concerned
about the integrity of the network infrastructure in Sri Lanka.
For the first time in Sri Lanka, CICRA is running EC-Council
certified combo training programmes in Certified Ethical Hacker (CEH),
Computer Hacking Forensic Investigator (CHFI), Licensed Penetrating
Tester (LPT) and Advanced Security Training in Advanced Penetration
Testing (APT), Digital Mobile Forensics Deep Dive, Advanced Application
Security (AAS), Advanced Network Defence and Cryptography Deep Dive.
A Certified Ethical Hacker is a skilled professional who understands
and knows how to look for the weaknesses and vulnerabilities in target
systems and uses the same knowledge and tools as a malicious hacker,
CICRA Director Boshan Dayaratne said.
Computer investigation techniques are being used by police,
government and corporate entities globally and many of them turn to
EC-Council for the Computer Hacking Forensic Investigator (CHFI)
Training and Certification Programme.
CICRA is also offering training in advanced security testing through
EC-Council's Centre for Advanced Security Training (CAST) that has been
created to address the need for highly technical and advanced security
training for information security professionals. E-C Council is a
member-based organization that certifies individuals in cyber security
and e-commerce and is the owner and developer of 16 globally recognized
security certificates. Its certificate programmes are offered in over 84
countries around the world. EC-Council has trained over 90,000
individuals and certified more than 40,000 members worldwide. |