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.
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 !