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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Colombo shares perk up ahead of Treasury-SEC meeting

Colombo shares perk up ahead of Treasury-SEC meeting

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Colombo shares perked up a bit on Wednesday on anticipation that a key meeting between Treasury Secretary Dr. P.B. Jayasundera and the Securities and Exchange Commission (SEC) could resolve broker issues and prop up a sagging market.

Turnover was Rs 275.7 million with a volume of 20.5 million shares traded and no large transactions. However the top-end shares that moved, even though in small quantities, led to gains in the indices.

The All Share gained by a negligible 0.20 per cent, the Milanka by 0.18 per cent and the S&P by just 0.18 per cent. Analysts said the rise, even though marginal, reflected hope in the market that Wednesday’s meeting at 3 pm would yield results in favour of boosting the market. There was no immediate information about the results of the meeting.

Last week President Mahinda Rajapaksa, during a meeting with brokers, investors, the Colombo Stock Exchange and the SEC, instructed Dr Jayasundera to call a meeting to discuss ways of resolving issues faced by brokers and investors like less credit restrictions among other matters.
http://sundaytimes.lk/index.php?option=com_content&view=article&id=22246:colombo-shares-perk-up-ahead-of-treasury-sec-meeting&catid=77:news&Itemid=563

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

Looks like we (locals) are waiting for the slightest positive news after been beaten down so bad.

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