The market activity in the Colombo stock exchange witnessed sign of recovery after a brief clustering period followed by the downward movement. First few days of the week reflected negative momentum mainly owing to the force selling warranted in terms of SEC directives. Benchmark ASI gained 136.95 points WoW (+1.9%) to close at 7,377.22 points and more liquid MPI jumped 186.61 points WoW (+2.7%) to close at 7,024.63. Average daily turnover of the week dropped to Rs.2.0bn (-31.59%WoW). Foreign participation was 18.9% of the total market activity and at the end of the week foreign investors were the net sellers with a net foreign outflow of Rs. 399.4mn.
With the end of the credit settlement by broking houses, the market is poised for a up move run. Fundamentally sound stocks witnessed sizable dip in their prices during the past couple of weeks and we expect these stocks to move up during next week. We anticipate steady upward movement in the forthcoming period with sound fundamentals and technicals.
Is this enough of an evidence from brokers to say that credit clearance was taking place until 31st March, 2011? Need more...?
When me and few other members mentioned about credit clearance taking place, you had this to say:
quote Re: some brokers’ debts are in the billions of rupees
Rajitha on Thu Mar 17, 2011 1:01 pm
It seems pointless talking or trying to explain to people that can't grasp with facts! All they want is people to praise them for putting fuel and writing the same rumor they heard from some one else and get upset if any one disagree with them. ( Not worth the effort mono we just get negative rep thats it! ). It seems best to nod along with idiots although you know they are posting baseless rumors and can't even talk 1 minute to try and confirm even if it might have the tiniest bit of truth! BTW ANU we did had some facts unlike your rumors that you trying to point out as facts! All the peoples brokers + mine as we heard have 0 credit left over from last year to clear( Atleast from retailers as i said) . But including you + many others have t+5 credit !
Manager - Equity Analytics
I do not want to hurt you by posting this buddy.... Only a humble request...do not call other members as narrow minded, idiots etc. while you yourself were absolutely wrong; that too in a public forum, which does not reflect good about you...
No offence made...