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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Elusive Turnaround

Elusive Turnaround

3 posters

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1Elusive Turnaround Empty Elusive Turnaround Fri Jan 06, 2012 10:36 pm

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Market turnaround remains elusive

Jan 6, 2011 (LBT) - The market was off to a sluggish start to the year with a WoW loss of 2.4% recorded on the ASI with retailers in absentia. Retailers continued to shun the market despite the commencement of trading of two IPO’s at the beginning of the week. Foreign institutional and high net worth investors followed suit with net foreign sales recorded in a number of fundamentally strong counters such as Commercial bank & Hayleys. The continued decline in foreign participation could also be partly attributed to the worsening current account position of the economy which led to the circulation of news items in the media hinting at the possibility of a further devaluation of the Rupee. Despite the Central banks best attempts to quash the reports, the damage had already been done as evident in the net foreign outflow of LKR154.42mn.

However despite the poor performance of the equity market, the Central bank succeeded in arresting the continuous rise in treasury yields which remained flat across all maturities at this week’s auction. This fact in conjunction with the Inflation in the month of December remaining at single digit levels, offers hope to investors for the coming weeks.

http://www.lbt.lk/news/market/994-elusive-turnaround

2Elusive Turnaround Empty Re: Elusive Turnaround Sat Jan 07, 2012 2:02 pm

Kumar

Kumar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Thanks a lot for sharing.

3Elusive Turnaround Empty Re: Elusive Turnaround Sat Jan 07, 2012 2:15 pm

kaka


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Thanks quibit for the infomation

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