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Sri Lankan bourse at 1-1/2 yr high on blue chips, retail buying

+2
sahan8896
sriranga
6 posters

Go down  Message [Page 1 of 1]

sriranga

sriranga
Co-Admin

COLOMBO, May 7 (Reuters) - Sri Lankan shares closed at their highest in nearly 1-1/2 years on Tuesday, led by blue chips, due to an improved appetite for risky assets after heavy foreign buying amid hopes of a rate cut at the central bank's policy meeting later this week.

The main stock index rose 1.32 percent, or 80.51 points, to 6,201.68, the highest close since Nov. 14, 2011.

'Investors are upbeat after foreign investors have been buying continuously. Retail investors are also on the buying side as they hope for a rate cut on Friday,' a stockbroker said on condition of anonymity.

Shares have been on a rising trend on expectations of a fall in interest rates after Treasury Secretary P.B. Jayasundera and the central bank said interest rates could ease in May-June.

The market has gained 7.3 percent since the treasury secretary's comments on April 9.

The International Monetary Fund, however, said on Thursday Sri Lanka must not loosen monetary conditions as inflation remains a concern, even though prices had risen at a slower pace in April than the previous month.

Shares in market heavyweight John Keells Holdings rose 1.65 percent to 264.50 rupees a share.

The turnover was 1.39 billion rupees ($11 million), more than this year's daily average of 1 billion rupees.

Foreign investors were net buyers of 248.8 million rupees of shares, extending the net foreign inflow so far this year to 9.21 billion rupees. Last year, the bourse saw a net inflow of $303 million.

The rupee ended at 126.30/37 per dollar, firmer from Monday's close of 126.40/50, on exporter dollar sales, said currency dealers.

($1 = 126.4150 Sri Lanka rupees)

(Reporting by Shihar Aneez and Ranga Sirilal; Editing by Anupama Dwivedi)

(shihar.aneez@thomsonreuters.com)(+94-11-232-5540)

(Reuters Messaging: shihar.aneez.thomsonreuters.com@reuters.net)(twitter.com/shihara neez)
http://www.xe.com/news/2013/05/07/3339625.htm?c=1&t=

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

sahan8896


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

The market has gained 7.3 percent since the treasury secretary's comments on April 9.


Everyday I see this part.Mostly this is due to market continuing rationally.I would like to ask from the writer if interest rate increase is announced will market fall. Question

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

@sriranga

Good point raised by shahan8896.
Bit explanation on interest rate theory & its direct impact on market trend would be helpful. Thanks

sriranga

sriranga
Co-Admin

worthiness wrote:@sriranga

Good point raised by shahan8896.
Bit explanation on interest rate theory & its direct impact on market trend would be helpful. Thanks

I post the news from Reuters.
Please note I'm not an author of this news.
If any questions, please email to the reporter.
Seems to that reporters name and mine confusing a lot. cheers

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

balapas


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

I thought you were Ranga Sirilal all this time Razz

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics

JKH has gone up, what other blue chip have gone up drastically?

at one point JKH was trading around 160-180 levels....

LSE

LSE
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Reuters: Shares closed at their highest in nearly 1-1/2 years on Tuesday, led by blue chips, due to an improved appetite for risky assets after heavy foreign buying amid hopes of a rate cut at the Central Bank’s policy meeting later this week.

The main stock index rose 1.32%, or 80.51 points, to 6,201.68, the highest close since 14 November 2011.

“Investors are upbeat after foreign investors have been buying continuously. Retail investors are also on the buying side as they hope for a rate cut on Friday,” a stockbroker said on condition of anonymity.

Shares have been on a rising trend on expectations of a fall in interest rates after Treasury Secretary Dr. P.B. Jayasundera and the Central Bank said interest rates could ease in May-June.

The market has gained 7.3% since the Treasury Secretary’s comments on 9 April.

The International Monetary Fund, however, said on Thursday Sri Lanka must not loosen monetary conditions as inflation remains a concern, even though prices had risen at a slower pace in April than the previous month.

Shares in market heavyweight John Keells Holdings rose 1.65% to Rs. 264.50 a share.

The turnover was Rs. 1.39 billion ($ 11 million), more than this year’s daily average of Rs. 1 billion.

Foreign investors were net buyers of Rs. 248.8 million of shares, extending the net foreign inflow so far this year to Rs. 9.21 billion. Last year, the Bourse saw a net inflow of $ 303 million.

The rupee ended at 126.30/37 per dollar, firmer from Monday’s close of 126.40/50, on exporter dollar sales, said currency dealers.

source - www.ft.lk

Thank You.

balapas


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

This is yesterdays stuff already posted here http://forum.srilankaequity.com/t28012-sri-lankan-bourse-at-1-1-2-yr-high-on-blue-chips-retail-buying?highlight=Shares+closed+at+their+highest+in+nearly+1+-1+2+years+on+Tuesday+++led+by+blue+chips+++due+to+an+improved+appetite+for+risky+assets

Posting Reuters news is sriranga job I think so you can leave it to him.

LSE

LSE
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

LSE wrote:Reuters: Shares closed at their highest in nearly 1-1/2 years on Tuesday, led by blue chips, due to an improved appetite for risky assets after heavy foreign buying amid hopes of a rate cut at the Central Bank’s policy meeting later this week.

The main stock index rose 1.32%, or 80.51 points, to 6,201.68, the highest close since 14 November 2011.

“Investors are upbeat after foreign investors have been buying continuously. Retail investors are also on the buying side as they hope for a rate cut on Friday,” a stockbroker said on condition of anonymity.

Shares have been on a rising trend on expectations of a fall in interest rates after Treasury Secretary Dr. P.B. Jayasundera and the Central Bank said interest rates could ease in May-June.

The market has gained 7.3% since the Treasury Secretary’s comments on 9 April.

The International Monetary Fund, however, said on Thursday Sri Lanka must not loosen monetary conditions as inflation remains a concern, even though prices had risen at a slower pace in April than the previous month.

Shares in market heavyweight John Keells Holdings rose 1.65% to Rs. 264.50 a share.

The turnover was Rs. 1.39 billion ($ 11 million), more than this year’s daily average of Rs. 1 billion.

Foreign investors were net buyers of Rs. 248.8 million of shares, extending the net foreign inflow so far this year to Rs. 9.21 billion. Last year, the Bourse saw a net inflow of $ 303 million.

The rupee ended at 126.30/37 per dollar, firmer from Monday’s close of 126.40/50, on exporter dollar sales, said currency dealers.

source - www.ft.lk

Thank You.

Sorry for the mistake

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