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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Record Foreign Selling

Record Foreign Selling

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1Record Foreign Selling  Empty Record Foreign Selling Wed Aug 19, 2020 11:00 am

Maharaja


Expert
Expert
I see the Foreign selling will cross a record value of Rs.30 Billion soon. 

2009/10 - market uptrend was a result of heavy foreign buying coupled with ending 30 years of war.

Today - Lower int. rates, Functioning economy after Covid and a stable rupee. These actions will result in better corporate results in the long term. 

But short term you will not see an immediate boost in economy.
Reason;

1.) Main foreign income / Foreign Remittance 
 Women working in middle east have lost jobs or not paid. Country will loose its main income source !

2.) US & EU markets are our main export markets and these are not still recovered. Therefore export income from usual lines will not rise immediately.

Meanwhile in CSE 

Foreigners have sold close to 30Bn in stocks for this year and trend will continue. 

But there are positive news also;

1.)The Export value > Imports, due to import restrictions

2.) SL has found new export markets for its products

3.) Local economy is functioning well

4.) China is backing the gov. with projects and financial help


Therefore Maharaja's analysis is market will not enter a bull market any time soon. Do not dream and loose money.
market will trade sideways until Foreign buying returns !



Maharaja

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2Record Foreign Selling  Empty Re: Record Foreign Selling Wed Aug 19, 2020 12:04 pm

samaritan


Moderator
Moderator
The foreigners are in a deep shit as they are struggling to control Covid19 and sadly they are not disciplined enough to adhere to precautionary measures taken by their respective governments. Hence, they will need funds to overcome the setbacks. This is not the first occasion CSE has witnessed foreign sales.  So, based on corona virus rankings they belong to third world and have a long way to go.

The positive news as mentioned by Maharaja will take ASPI to new heights. Political stability and a Govt committed to economic progress adds strength to the positive factors.


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