FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post



Poll

Can there be another Covid-19 wave in Sri Lanka?

Bourse’s negative return back to 20% as SEC move fails to spark Vote_lcap68%Bourse’s negative return back to 20% as SEC move fails to spark Vote_rcap 68% [ 178 ]
Bourse’s negative return back to 20% as SEC move fails to spark Vote_lcap18%Bourse’s negative return back to 20% as SEC move fails to spark Vote_rcap 18% [ 47 ]
Bourse’s negative return back to 20% as SEC move fails to spark Vote_lcap13%Bourse’s negative return back to 20% as SEC move fails to spark Vote_rcap 13% [ 35 ]

Total Votes : 260

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Bourse’s negative return back to 20% as SEC move fails to spark

Bourse’s negative return back to 20% as SEC move fails to spark

4 posters

Go down  Message [Page 1 of 1]

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
YTD net foreign inflow of Rs. 24 b only silver lining

The granting of greater flexibility on broker credit to clients failed to bolster a credible rebound in the Colombo Bourse as it got back to over 20% mark in year to date negative return mark.

The benchmark ASI lost 27.07 points to close at 4,853.03 points (-0.6%) whilst the Milanka Price Index shed 23.19 points to close at 4,285.62 points (-0.54%) after gaining in early morning trade.

Some expected the market to rebound after the SEC relaxed some previous rules on broker credit but as feared by others, minor tinkering failed to spur an overall rebound.

There was some confusion within brokers with some alleging the extension of credit for 120 days wasn’t what the industry requested whereas the recommendation has been overall removal of time bound limits with brokers providing for their respective exposures.

The ASI is around 116 points from hitting the 2012’s lowest level as the index moved back to over 20% negative return threshold. MPI topped the 18% mark. Value wise, the market has lost over 16% or over Rs. 300 billion year-to-date.

The only silver lining remains the net foreign inflow crossing the Rs. 24 billion mark by yesterday, a record given the massive outflows since 2009.

NDB Stockbrokers said market commenced the day witnessing retail activity and interest being continued in both LAUGFS Gas voting and non-voting. Accumulation continued in Carsons and Commercial Bank non-voting whilst Asian Hotels and Properties saw renewed interest.

Heavyweight John Keells Holdings continued to lose ground making the indices slide further. Turnover levels remain low due to absence of institutional and high net worth participation, it added.

Softlogic Stockbrokers said indices marked its stay in the red on the back of low investor sentiment continuing its trend of low trade volumes. Retail activity prevailed to spearhead the bourse while fundamentally sound blue chips dominated the turnover suggesting silent accumulation amidst the downturn.

It said one dipped for every counter that gained with the move towards the negative territory being mainly driven by Aitken Spence (-3.31%), Sri Lanka Telecom (-2.06%) and John Keells Holdings (-0.78%). The S&P SL20 took a downturn with CT Holdings (-3.57%), Aitken Spence (-3.31%) and Hayleys (-3.17%) being the top losers for the day.

Investors continued to sought after the high dividend yielding counter LAUGFS Gas which reached an intra-day high of Rs. 17.40 (+8%) before closing at Rs. 16.30, followed closely by its voting share persisting to be a top performer for the day dipping -1.30% to close at Rs. 22.80.

High market caliber counter Sampath Bank attracted investor attention as c55k shares were picked on board at Rs. 150 during the initial trading hours leading way to spearhead the day’s turnover. It trades at a PER of 5.2 on 2012E earnings. Another banking sector counter Seylan Bank touched a 52 week low of Rs. 49 whilst it traded at an intra-day high of Rs. 53.00 (2.9%) to close at Rs. 51.

Liquid counter Free Lanka Capital Holdings witnessed 550k shares being picked on board at Rs. 1.80 while 288,000 shares of Piramal Glass changed hands at Rs. 5.10. Vidullanka (Rights) saw large blocks amounting to 1.18 million shares dealt on board at 10 cents each.
http://www.ft.lk/2012/07/18/bourses-negative-return-back-to-20-as-sec-move-fails-to-spark/

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
t is surprising to watch the local investors selling quality shares at lower prices at loss High interest rates will not make the investors to exit from the market as these who invest in shares hope to get more than 15% or 20% a year.

Provide untimely is the policy changes that upset the investors. When the market is low the brokers should be allowed to give credit as they please.
It is good for the investors. At the moment credit can be extended up to one year, so that investors can reap benefit of company performances. Period of credit facility should be gradually reduced when the market goes up. so that the small investors will be protected and they can recover the losses. They have incurred so far.

Hawk Eye

Hawk Eye
Expert
Expert
its because lot of people wants to pick at lower prices (big players). Almost all good shares being picked up at a price level.

Then next is market should move up for them to sell high

sikka89


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Hawk Eye wrote:its because lot of people wants to pick at lower prices (big players). Almost all good shares being picked up at a price level.

Then next is market should move up for them to sell high
oh yes,LOLC,DFCC,NDB,SAMP,VONE,CFLB on top list.

Sponsored content


Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum