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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Sri Lanka: Stock Market Rises by 1.4% for the first time in 2016 as Government Releases Political Prisoners Dr.Godahewa and SEC Dhammika Perera

Sri Lanka: Stock Market Rises by 1.4% for the first time in 2016 as Government Releases Political Prisoners Dr.Godahewa and SEC Dhammika Perera

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sisira.wijeweera
Melissa Pereira
6 posters

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Melissa Pereira


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

Sri Lanka's only capital market Colombo Stock Exchange's All Share Price Index (ASPI) gained sharply after ending four straight session of declines whilst country's judiciary released former Securities and Exchange Commission 9SEC) Chairman Dr. Nalaka Godahewa and former Director General of SEC Dhammika Perera who were actively involved in the revival of Sri Lankan Capital Market during the country's 'Economic Boom' under previous government. The present Sri Lankan government jailed them on an alleged transaction of SEC Funds to a Charity for political reasons according to analysts. The present government appointing an incapable SEC Chairman Thilak Karunaratne in January 2015 who continues to be a larger stockholder of a Stock Exchange banned closed listed Forestry Company titled Touchwood via Karunaratne's Chemical Company according to sources from Touchwood. Some politicians and analysts note that Karunaratne due to his incapability had tried to go on a witch hunt to support the jailing of former SEC officials to get credits without doing 'Nothing'. In today's trading session Blue chips such as Distilleries Company, Lanka Orix Leasing Company, and Ceylon Cold Stores assisted the index gains. 

The day’s total turnover crossed LKR 950mn mark and John Keells Holdings (Voting) became the major contributor to the day’s total turnover by trading actively with four crossings and some block trades on the normal board. Crossings were also seen in Dialog Axiata and Commercial Bank of Ceylon (Voting). Dialog Axiata actively traded throughout the day. Foreign investors were net buyers for the day. The All Share Price Index gained 88.5 points to close at 6,349.8 (+1.4%), while the S&P SL20 Index gained 52.4 points to close at 3,293.5(+1.6%). Total turnover for the day stood at LKR 986.9mn (USD 6,852.5k) vs. 12-months average daily turnover of LKR 1,242.2mn (USD 8,625.5k), whilst the volume traded for the day was 32,255k against the 12-month average daily volume of 49,494k. Top contributory counters towards the day’s turnover were John Keells Holdings (Voting) LKR 326.7mn (USD 2,268.3k, +0.3%), Dialog Axiata LKR 116.1mn (USD 806.3k, 0.0%), Ceylon Cold Stores LKR 51.2mn (USD 356.6k, +6.6%), Commercial Bank of Ceylon (Voting) LKR 41.2mn (USD 286.0k, +1.2%), Ceylon Grain Elevators LKR 39.5mn (USD 274.0k, 15.8%). Foreign purchases amounted to LKR 489.2mn (USD 3,396.6k), whilst foreign sales amounted to LKR 237.9mn (USD 1,652.2k). This resulted in a net foreign inflow of LKR 251.2mn being recorded at the end of the day’s trading. 

Market capitalization stood at LKR 2,710.4bn. YTD performance of the ASPI is -7.9%.

sisira.wijeweera


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

Melissa Pereira wrote:Sri Lanka's only capital market Colombo Stock Exchange's All Share Price Index (ASPI) gained sharply after ending four straight session of declines whilst country's judiciary released former Securities and Exchange Commission 9SEC) Chairman Dr. Nalaka Godahewa and former Director General of SEC Dhammika Perera who were actively involved in the revival of Sri Lankan Capital Market during the country's 'Economic Boom' under previous government. The preset Sri Lankan government kept jailed them for political reasons according to analysts. In today's trading session Blue chips such as Distilleries Company, Lanka Orix Leasing Company, and Ceylon Cold Stores assisted the index gains. 

The day’s total turnover crossed LKR 950mn mark and John Keells Holdings (Voting) became the major contributor to the day’s total turnover by trading actively with four crossings and some block trades on the normal board. Crossings were also seen in Dialog Axiata and Commercial Bank of Ceylon (Voting). Dialog Axiata actively traded throughout the day. Foreign investors were net buyers for the day. The All Share Price Index gained 88.5 points to close at 6,349.8 (+1.4%), while the S&P SL20 Index gained 52.4 points to close at 3,293.5(+1.6%). Total turnover for the day stood at LKR 986.9mn (USD 6,852.5k) vs. 12-months average daily turnover of LKR 1,242.2mn (USD 8,625.5k), whilst the volume traded for the day was 32,255k against the 12-month average daily volume of 49,494k. Top contributory counters towards the day’s turnover were John Keells Holdings (Voting) LKR 326.7mn (USD 2,268.3k, +0.3%), Dialog Axiata LKR 116.1mn (USD 806.3k, 0.0%), Ceylon Cold Stores LKR 51.2mn (USD 356.6k, +6.6%), Commercial Bank of Ceylon (Voting) LKR 41.2mn (USD 286.0k, +1.2%), Ceylon Grain Elevators LKR 39.5mn (USD 274.0k, 15.8%). Foreign purchases amounted to LKR 489.2mn (USD 3,396.6k), whilst foreign sales amounted to LKR 237.9mn (USD 1,652.2k). This resulted in a net foreign inflow of LKR 251.2mn being recorded at the end of the day’s trading. 

Market capitalization stood at LKR 2,710.4bn. YTD performance of the ASPI is -7.9%.
good News

Yahapalanaya

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

Melissa Pereira wrote:Sri Lanka's only capital market Colombo Stock Exchange's All Share Price Index (ASPI) gained sharply after ending four straight session of declines whilst country's judiciary released former Securities and Exchange Commission 9SEC) Chairman Dr. Nalaka Godahewa and former Director General of SEC Dhammika Perera who were actively involved in the revival of Sri Lankan Capital Market during the country's 'Economic Boom' under previous government. The present Sri Lankan government jailed them on an alleged transaction of SEC Funds to a Charity for political reasons according to analysts. The present government appointing an incapable SEC Chairman Thilak Karunaratne in January 2015 who continues to be a larger stockholder of a Stock Exchange banned closed listed Forestry Company titled Touchwood via Karunaratne's Chemical Company according to sources from Touchwood. Some politicians and analysts note that Karunaratne due to his incapability had tried to go on a witch hunt to support the jailing of former SEC officials to get credits without doing 'Nothing'. In today's trading session Blue chips such as Distilleries Company, Lanka Orix Leasing Company, and Ceylon Cold Stores assisted the index gains. 

The day’s total turnover crossed LKR 950mn mark and John Keells Holdings (Voting) became the major contributor to the day’s total turnover by trading actively with four crossings and some block trades on the normal board. Crossings were also seen in Dialog Axiata and Commercial Bank of Ceylon (Voting). Dialog Axiata actively traded throughout the day. Foreign investors were net buyers for the day. The All Share Price Index gained 88.5 points to close at 6,349.8 (+1.4%), while the S&P SL20 Index gained 52.4 points to close at 3,293.5(+1.6%). Total turnover for the day stood at LKR 986.9mn (USD 6,852.5k) vs. 12-months average daily turnover of LKR 1,242.2mn (USD 8,625.5k), whilst the volume traded for the day was 32,255k against the 12-month average daily volume of 49,494k. Top contributory counters towards the day’s turnover were John Keells Holdings (Voting) LKR 326.7mn (USD 2,268.3k, +0.3%), Dialog Axiata LKR 116.1mn (USD 806.3k, 0.0%), Ceylon Cold Stores LKR 51.2mn (USD 356.6k, +6.6%), Commercial Bank of Ceylon (Voting) LKR 41.2mn (USD 286.0k, +1.2%), Ceylon Grain Elevators LKR 39.5mn (USD 274.0k, 15.8%). Foreign purchases amounted to LKR 489.2mn (USD 3,396.6k), whilst foreign sales amounted to LKR 237.9mn (USD 1,652.2k). This resulted in a net foreign inflow of LKR 251.2mn being recorded at the end of the day’s trading. 

Market capitalization stood at LKR 2,710.4bn. YTD performance of the ASPI is -7.9%.
They are on bail not released from their charges.There is no relation between market recovery and their bail. Shocked Shocked Shocked

Melissa Pereira


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

Yahapalanaya wrote:
Melissa Pereira wrote:Sri Lanka's only capital market Colombo Stock Exchange's All Share Price Index (ASPI) gained sharply after ending four straight session of declines whilst country's judiciary released former Securities and Exchange Commission 9SEC) Chairman Dr. Nalaka Godahewa and former Director General of SEC Dhammika Perera who were actively involved in the revival of Sri Lankan Capital Market during the country's 'Economic Boom' under previous government. The present Sri Lankan government jailed them on an alleged transaction of SEC Funds to a Charity for political reasons according to analysts. The present government appointing an incapable SEC Chairman Thilak Karunaratne in January 2015 who continues to be a larger stockholder of a Stock Exchange banned closed listed Forestry Company titled Touchwood via Karunaratne's Chemical Company according to sources from Touchwood. Some politicians and analysts note that Karunaratne due to his incapability had tried to go on a witch hunt to support the jailing of former SEC officials to get credits without doing 'Nothing'. In today's trading session Blue chips such as Distilleries Company, Lanka Orix Leasing Company, and Ceylon Cold Stores assisted the index gains. 

The day’s total turnover crossed LKR 950mn mark and John Keells Holdings (Voting) became the major contributor to the day’s total turnover by trading actively with four crossings and some block trades on the normal board. Crossings were also seen in Dialog Axiata and Commercial Bank of Ceylon (Voting). Dialog Axiata actively traded throughout the day. Foreign investors were net buyers for the day. The All Share Price Index gained 88.5 points to close at 6,349.8 (+1.4%), while the S&P SL20 Index gained 52.4 points to close at 3,293.5(+1.6%). Total turnover for the day stood at LKR 986.9mn (USD 6,852.5k) vs. 12-months average daily turnover of LKR 1,242.2mn (USD 8,625.5k), whilst the volume traded for the day was 32,255k against the 12-month average daily volume of 49,494k. Top contributory counters towards the day’s turnover were John Keells Holdings (Voting) LKR 326.7mn (USD 2,268.3k, +0.3%), Dialog Axiata LKR 116.1mn (USD 806.3k, 0.0%), Ceylon Cold Stores LKR 51.2mn (USD 356.6k, +6.6%), Commercial Bank of Ceylon (Voting) LKR 41.2mn (USD 286.0k, +1.2%), Ceylon Grain Elevators LKR 39.5mn (USD 274.0k, 15.8%). Foreign purchases amounted to LKR 489.2mn (USD 3,396.6k), whilst foreign sales amounted to LKR 237.9mn (USD 1,652.2k). This resulted in a net foreign inflow of LKR 251.2mn being recorded at the end of the day’s trading. 

Market capitalization stood at LKR 2,710.4bn. YTD performance of the ASPI is -7.9%.
They are on bail not released from their charges.There is no relation between market recovery and their bail. :shock: :shock: :shock:


Yahapalanaya - You will not even see forums or new IT Startups coming up in SL and you will have no places even to comment like this if Ranil signs CEPA so called new ECTA with India to allow 100% Indian IT Job Seekers to take IT jobs in Sri Lanka...We will even not see a Millennium IT giving jobs to Sri Lankans to run our Automated Trading System we will also not see Virtusa giving jobs for about 5,000 Sri Lankans and paying good slalaries for Sri Lankans...all will recruit Indians... Go and file a case against CEPA = ECTA and 'Yahapalanaya' first if you are so worried.

ravindu7silva


Stock Analytic
Stock Analytic

@ Melissa Pereira

You are an idiot; there is no relationship between these two incidents. The market started to go up in the morning and the Court released them on bail in the afternoon.  (After Trading) Please do not mislead poor investors.  You must be having a personal agenda here. Who cares about politics, all of us want the market to go up.

worthiness


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

This is an abrasive, incompatible & slanted statement degrading the standard of forum readers.

ravindu7silva


Stock Analytic
Stock Analytic

thank you @, worthiness. 

Melissa Pereira, please do not insult readers. If you have a personal agenda please do it outside the forum. 

"Asiri" Wewa

Teller

Teller
Moderator
Moderator

I don't think any relation ship between market movement and Dr.Godahewas release. Another misleading article.

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