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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Stocks: CSE won’t ‘somehow’ go up

Stocks: CSE won’t ‘somehow’ go up

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1Stocks: CSE won’t ‘somehow’ go up Empty Stocks: CSE won’t ‘somehow’ go up Sun Nov 25, 2012 2:19 am

sriranga

sriranga
Co-Admin
While some may call it local investors’ ‘pessimism’, others say that no new monies are coming into the Colombo Stock Market, which seems to be stuck with parties trying to ‘somehow’ prop it up and falling flat on the face.

“This isn’t a proper market as some call it. There are many external factors at play with the plausible culprit being the interest rates which are currently attractive, that people won’t put money anywhere else other than the financial institutions,” a CEO of a stock-broking firm who didn’t want to be quoted (lest he was deemed unpatriotic for citing these reasons for the downward trend in the stock market), told the Business Times.

He said that locals don’t have any confidence in this market. “They don’t have any money to put in the CSE.

More than that they don’t want to take a chance by pulling their cash from (high yielding) fixed deposits, which translates into them not having any confidence in this market,” he added.

Another stockbroker, who remained anonymous for the same reasons of being branded by the ‘mafia’ (as he called it) said that the interest rates rise as of Thursday would make canvassing investors to the CSE more difficult. When questioned on why the foreigners are net buyers, if confidence is low, he said, “Most of money that’s coming through foreign investment cannot be blindly deemed as ‘foreign’. What I’ call it is ‘external’ money which cannot be identified.”
http://www.sundaytimes.lk/121125/business-times/stocks-cse-wont-somehow-go-up-21232.html

http://sharemarket-srilanka.blogspot.co.uk/

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
another hint in this article....any1 reading between the lines ......

those who bought at current levels and willing to hold will harvest..... Very Happy

thanks sri........for sharing the article,you and malika doing a gr8 job keeping us informed..

TAH

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
What I’ call it is ‘external’ money which cannot be identified.

Which we were discussing long time in our forum.

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