FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post


ADVERTISE
Poll

EXCHANGE RATE PREDICTION: 2022

 
 
 
 

View results

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» POSITIVES & TARGETS BY IMTIAZ BUHARDEEN
by ChooBoy Today at 9:30 pm

» Sri Lankan corporations reap large profits as workers and rural toilers face poverty and starvation
by CHRONICLE™ Today at 6:37 pm

» අද රාත්‍රියෙන් පසු, යක්ෂයාගේ හෝරාව ඇරඹේ!
by God Father Today at 6:13 pm

» Derana 360 with Minister Dhammika Perera
by samaritan Today at 1:07 pm

» CENTRAL INDUSTRIES PLC (CIND.N0000)
by LHW Today at 9:24 am

» Breaking News- Kanchana to go to Qatar ; 2 more ministers off to Russia
by Beyondsenses Today at 8:13 am

» PM thanks President Biden for assuring US support to Sri Lanka
by Beyondsenses Today at 8:07 am

» Sri Lanka Stock Market heading toward ASPI 4500
by God Father Yesterday at 9:14 pm

» Why no power cuts in certain areas of Colombo?
by God Father Yesterday at 8:03 pm

» Expolanka to continue its winning streak
by samaritan Yesterday at 9:49 am

» කොළඹ රාජකීය ගොල්ෆ් සමාජය විසින් රජයේ දේපළ අවභාවිත කිරීම
by ddindika Yesterday at 9:33 am

» LOLC to enter the giant Indian Market
by samaritan Yesterday at 9:17 am

» LOLC HOLDINGS PLC (LOLC.N0000)
by CHRONICLE™ Yesterday at 6:46 am

» SOEs within Minimum Programme for Economic Recovery
by CHRONICLE™ Yesterday at 6:44 am

» COVID WAVES: Can there be another Covid-19 wave in Sri Lanka?
by CHRONICLE™ Yesterday at 6:36 am

» Luminex Limited lists on the Diri Savi Board after a capital raise of Rs. 250 Million
by CHRONICLE™ Yesterday at 6:34 am

» Importance of Agroforestry for Sri Lanka
by CHRONICLE™ Yesterday at 6:31 am

» Nivard Cabraal sets record straight on decision to allow flexibility to the rupee
by God Father Sun Jun 26, 2022 11:15 pm

» Baseless accusations against the former Governor Nivard Cabraal
by ChooBoy Sun Jun 26, 2022 10:44 pm

» Heavy losses at CPC whilst LIOC records profit
by ChooBoy Sun Jun 26, 2022 1:32 pm

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Bourse gathers strength as ASI tops 6,700 mark

Bourse gathers strength as ASI tops 6,700 mark

Go down  Message [Page 1 of 1]

dhanurrox


Vice President - Equity Analytics
Vice President - Equity Analytics

The Colombo stock market gathered further strength yesterday with improved local investor sentiment pushing the benchmark All Share Index to cross the 6,700-points mark.
A gain of near 29 points yesterday pushed ASI to 6,727 points bringing the year to date return to 13.78%. A similar increase in S&P SL20 index saw its year to date return to 15%. Market capitalisation was Rs. 2.82 trillion, up by 14.62%.
“Indices extended gains from Monday with the benchmark ASPI crossing the 6,700 mark after a period of more than two and a half years,” NDB Stockbrokers said.
Lanka Securities said price progression in index heavy counters such as Carson Cumberbatch (closed at Rs. 450.00, +7.1%), Bukit Darah (closed at Rs. 680.00, +5.4%) and John Keells Holdings (closed at Rs. 243.40, +1.3%) affected positively to the index performance.
Turnover crossed the Rs. 2 billion as market saw several crossings in Distilleries (4 million shares at Rs. 204.00 per share), Aitken Spence Hotels (2.7 million shares at Rs. 80.50-81.50), Commercial Bank (0.5 million shares at Rs. 145.00 per share), John Keells Holdings (0.2 million shares at Rs. 242.00 per share), Access Engineering (1.8 million shares at Rs. 26.00 per share) and Hatton National Bank (0.2 million shares at Rs. 169.50 per share). Aggregate value of crossings represented 56% of the total market turnover.
Distilleries emerged as the top contributor to the market turnover with Rs. 834 million followed by Aitken Spence Hotels (Rs. 306 million) and John Keells Holdings (Rs. 137 million).
“Gainers surpassed losers 131 to 84, while 53 counters remained unchanged. Cash map marginally declined to 49% from 51%,” Lanka Securities added.
Foreign buying on Distilleries amounted 1.5 million shares worth Rs. 307.5 million but there was also outflow with Aitken Spence seeing foreign selling of 3.4 million shares worth Rs. 283 million. Overall net foreign inflow was Rs. 48.6 million bringing the year to date figure to Rs. 9.46 billion. HNB and Chevron saw net foreign buying. Retail interest was seen in PC Pharma, PCH Holdings, Sierra Cables and SMB leasing
Analysts said low interest rate scenario and improved external trade boosted overall investor sentiments. The Central Bank kept policy rates steady at multi-year lows for a sixth straight month, as expected, despite private sector credit growth slowing to a 4-1/2-year low.
Reuters however said the index was in overbought region since 3 July as it has gained 5.47% so far this month.
“There can be profit-taking here and there, but the market will continue to gain with low interest rates and continued foreign buying. Investors are awaiting to see how the foreigners are reacting (in an overbought situation),” said a stockbroker asking not to be named.
Reuters said lower interest rates have prompted local investors to buy shares and shift their savings from unattractive fixed assets, analysts said, as yields on treasury bills edged down further at a weekly auction on Wednesday.
Analysts said foreigners have been buying risky assets because they see value in them, while falling yields in fixed assets gradually prompt local investors to shift to equities. The market has been on a rising trend since late February due to continued foreign buying and lower interest rates.

http://www.ft.lk/2014/07/16/bourse-gathers-strength-as-asi-tops-6700-mark/

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum