Then within less than 3 months it dropped to 5862, nearly 15% drop. Lot of negative thoughts on curruncy rate to depreciate 1USD to 150LKR, Interest rates to reach 15%, budget deficit to reach 7.5% of GDP then BoP crisis. Then came the implementation of CGT on stock market.
CB raises rates once in February and therafter kept on same level.
364 day T.Bill yields rised to 10.64% in 1st April 16 from 4th Jan 2016
US doller appreciates to 145.89 as at 24th March
Since then what happned?
STL reintroduced effectively nullifying CGT
364day T.Bill yields dropped to 10.27% by 6th May
LKR strengthned against US Doller by 39 cents since 24th March level
IMF and ADB pledges to loan 3.5bn USD
So ASPI reached 6637 on 10th May recovering 11.2% of the loss suffered YTD March 2016.
This is the trailor of the movie.
So what will be next? Will ASPI capture the balance loss of 4% or will ASPI loose the captured land? Or Will ASPI enter a new greener pastures with invading 7000 teritory?
So now its the task for analysts.:D:D