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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Colombo shares fail to toast broker meeting with President

Colombo shares fail to toast broker meeting with President

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K.Haputantri

K.Haputantri
Co-Admin

Colombo shares fail to toast broker meeting with President
Friday, 20 July 2012 18:33 Sunday Times

Colombo shares didn't toast the meeting that some powerful stakeholders had with President Mahinda Rajapaksa on Friday morning to discuss the current status of the Colombo Stock Exchange (CSE), analysts said.

"Like in the last occassion, when they met the President, the indices didn't go up today," an analysts said.
He added that members of the SEC and CSE, representatives of the stock brokering firms and investors had a heated discussion lasting for nearly two hours, where the brokers presented proposals seeking more leverage on broker credit and relaxation of certain trading regulations imposed by the SEC.

The All Share lost 2.89 points to close at 4,888.22, Milanka lost 21.45 points to settle at 4,309.59 and the S&P index gained 8.26 points to close at 2,768.44. Turnover was Rs. 284 million.

Most active during the day were HVA Foods, Asia Asset Finance and Laugfs Gas non-voting. Top contributors to turnover were HVA Foods with Rs. 58.8 million, Ceylon Tobacco Company with Rs. 31 million and Asia Asset Finance with Rs. 19.7 million. (DEC)

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

Seems like market does not respond like crazy to "speculative" news. Also most of the big boys who can up the market was there at the market making complaints.

K.Haputantri

K.Haputantri
Co-Admin

Yes. They were trying to open a short cut to off load their over valued portfolios and also to suspend investigations against them. Now they must be in Katharagama praying for the same.

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