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



Poll

Can there be another Covid-19 wave in Sri Lanka?

 
 
 

View results

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» The stock market can be a great place to make money; it can also be a great place to lose money. Stock market for beginners
by D.G.Dayaratne Today at 7:33 am

» BROWNS INVESTMENTS PLC (BIL.N0000)
by MoneyLover Yesterday at 7:16 pm

» What is "Introductions" in Upcoming listing in CSE?
by Nandun Yesterday at 1:46 pm

» Glove stocks fall after Top Glove posts weaker 4Q results
by ResearchMan Yesterday at 1:37 pm

» KOTAGALA PLANTATION
by stockchaser Yesterday at 8:03 am

» LOFC AND CLC Target Price??
by Captain Fri Sep 17, 2021 9:17 pm

» Top Foreign Trading today
by SAGA Fri Sep 17, 2021 6:32 pm

» Top crossings today
by SAGA Fri Sep 17, 2021 5:01 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by Sunimal Fri Sep 17, 2021 12:52 pm

» Amana Takaful ATL & ATLL
by kanishkaecomm Fri Sep 17, 2021 12:17 pm

» Best Time to Collect Cic X
by Value Pick Fri Sep 17, 2021 8:15 am

» Why is First Capital Holdings being dumped?
by Berryfund Fri Sep 17, 2021 6:29 am

» AGST can move
by Zayden River Thu Sep 16, 2021 11:58 pm

» COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000)
by newone Thu Sep 16, 2021 11:57 pm

» AGSTAR PLC (AGST.N0000)
by Zayden River Thu Sep 16, 2021 11:57 pm

» RAIGAM WAYAMBA SALTERNS PLC (RWSL.N0000)
by Bakkabwoi Thu Sep 16, 2021 8:10 pm

» Twitter accounts related to the stock market
by Bakkabwoi Thu Sep 16, 2021 8:09 pm

» TOKYO CEMENT COMPANY (LANKA) PLC
by xhunter Thu Sep 16, 2021 7:55 pm

» LOFC LOFC LOFC
by madukp Thu Sep 16, 2021 6:49 pm

» How Equity Emerged the Top Asset Class During a Pandemic
by samaritan Thu Sep 16, 2021 6:30 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™ » DAILY CHRONICLE™ » Bourse ends at 7-month high on stability hopes after polls

Bourse ends at 7-month high on stability hopes after polls

Go down  Message [Page 1 of 1]

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Shares closed at their highest level in seven months in a truncated session on Monday on hopes that political stability after the 17 August parliamentary elections would help boost investor sentiment, brokers said.

Sri Lankans went to the polls on Monday to elect a new parliament in what amounts to a referendum on ex-president Mahinda Rajapaksa’s comeback bid, with the reformist alliance that swept him from power seeking a stronger mandate.

The trading time was reduced to half from the usual five hours due to the election.
The main stock index ended up 0.4% at 7,492.04, the highest close since 16 January.
The day’s turnover stood at Rs. 1.17 billion ($ 8.74 million) on Monday, in line with this year’s daily average of Rs. 1.13 billion.

Foreign investors were net buyers of a net Rs. 4.79 million worth of equities on Monday. But they have offloaded a net Rs. 1.08 billion worth of shares so far this year.
“Heavy retail interest was there. The whole market was dominated by retail investors on the hopes of strong earnings and a stable government after the elections,” said Dimantha Mathew, a research manager at First Capital Equities Ltd.

“We expect the market to be very positive after the elections.”
Shares in Sri Lanka Telecom Plc jumped 3.59%, while Ceylon Theaters Plc rose 7.80%, pushing the index higher.

[size=30]Rupee falls as state bank raises dollar peg[/size]



Reuters: The Sri Lankan rupee fell on Monday, declining for a third session in four, as a state-run bank raised the currency’s peg against the dollar by 10 cents to allow the exchange rate to depreciate to 134.00, dealers said.

They expect the central bank, which has so far this year directed the market through the state-run bank, to let the currency remain weaker after Monday’s parliament elections due to importer dollar demand and global trend.

Sri Lankans went to the polls on Monday to elect a new parliament in what amounts to a referendum on ex-president Mahinda Rajapaksa’s comeback bid, with the reformist alliance that swept him from power seeking a stronger mandate.

Analysts said the rupee may fall to 137 levels in the short term if the central bank allows it to depreciate, in line with the weakening seen in other global currencies against the dollar.
Dealers said there was heavy importer dollar demand with some booking forwards. Exporters also expect the rupee to depreciate further, they added.

“There was huge importer demand and no exporter (dollar) sales,” a currency dealer said, asking not to be named.

Central Bank officials were not immediately available for comment.
The currency has fallen 0.37% since 5 August as the state-owned bank raised the currency’s peg against the dollar by 50 cents on four occasions, allowing the exchange rate to fall.
 
Courtesy: Daily Financial Times 18 August 2015

Back to top  Message [Page 1 of 1]

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