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

Click Link to get instant AI answers to all business queries.
Click Link to find latest Economic Outlook of Sri Lanka
Click Link to view latest Research and Analysis of the key Sectors and Industries of Sri Lanka
Worried about Paying Taxes? Click Link to find answers to all your Tax related matters
Do you have a legal issues? Find instant answers to all Sri Lanka Legal queries. Click Link
Latest images

Latest topics

» Maharaja Foods PLC (MFL) - IPO Analysis
by ChooBoy Mon Jul 22, 2024 12:27 am

» කොළඹ කොටස් වෙළඳපොල විශ්ලේෂණය - 2024
by ChooBoy Fri Jul 19, 2024 11:53 am

» Winds of Change: Sri Lanka's Banking Crisis is Stalling Renewable Energy Ambitions of Local Stalwarts of Wind & Solar Power
by God Father Wed Jul 17, 2024 10:11 pm

» Banking Sector Analysis
by God Father Sat Jul 13, 2024 7:57 am

» Impact of Elections on Colombo Stock Market Sentiment
by Quibit Tue Jul 09, 2024 9:01 am

» LankaBIZ Unveils AI-Driven On-Demand Financial Research and Analysis Service
by Quibit Thu Jul 04, 2024 12:49 pm

» CDB Non voting
by Nandun Sun Jun 30, 2024 9:45 pm

» The Parsi Power Play: How a Small Community of Iranian Parsis are Controling Sri Lanka's US $ 85 billion Economy & 22 Million Population & Politics driving away FDIs
by MalakaDesmond Sun Jun 30, 2024 10:19 am

» Richard Pieris Group: Mismanaged?
by Walbaba Sat Jun 29, 2024 7:04 pm

» සොෆ්ට්ලොජික් හෝල්ඩිංග්ස් පීඑල්සී: අඳුරු අපේක්ෂාවන් සහිත ඉහළ අවදානම් ආයෝජනයක්
by D.G.Dayaratne Tue Jun 25, 2024 5:45 am

» සොෆ්ට්ලොජික් ප්‍රාග්ධනයට වන්දි ගෙවන Share BuyBack නිසා Softlogic ජීවිත රක්‍ෂණය බංකොලොත් වීමේ අවදානමක
by MalakaDesmond Tue Jun 25, 2024 1:49 am

» Softlogic Life insurance face Danger of Bankruptcy due to Share BuyBack that compensate Softlogic Capital
by MalakaDesmond Tue Jun 25, 2024 1:33 am

» Softlogic Holdings PLC: A High-Risk Investment with Bleak Prospects
by MalakaDesmond Tue Jun 25, 2024 12:52 am

» FINANCE AND LEASING SECTOR
by SL-INVESTOR Sat Jun 22, 2024 12:48 am

» HSENID BUSINESS SOLUTIONS PLC (HBS.N0000)
by ErangaDS Wed Jun 19, 2024 9:21 pm

» How will proposed Tax Reforms affect Sri Lankans in 2025
by Quibit Wed Jun 19, 2024 9:27 am

» Falsified accounts and financial misrepresentation at Arpico Insurance PLC (AINS)
by ChooBoy Tue Jun 18, 2024 11:31 pm

» Impact of IMF reforms to Sri Lanka Economy
by D.G.Dayaratne Mon Jun 17, 2024 6:36 pm

» Richard Pieris Finance Ltd continue to endanger the Depositors with negative performance
by ddindika Mon Jun 17, 2024 3:17 pm

» Richard Pieris Exports reports 97% decline in Net Profits
by Biggy Sat Jun 15, 2024 11:26 am

» Do your own Stock Market Research using AI Tools
by Quibit Fri Jun 14, 2024 10:50 am

» What will happen tomorrow?
by cheetah Thu Jun 13, 2024 12:07 pm

» Focus on Government controlled entities
by ErangaDS Mon Jun 10, 2024 4:15 pm

LISTED COMPANIES

Submit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)



CHRONICLE™ YouTube


You are not connected. Please login or register

Decline in net foreign outflow - Positive signal for market

Go down  Message [Page 1 of 1]

samaritan

avatar
Moderator
Moderator

Decline in net foreign outflow - Positive signal for market Niroshan-wijesundara

By Hiran H.Senewiratne

The net foreign outflow at the CSE has come down in June compared to May this year in a positive signal for the market, which indicates that foreign investors still have confidence in the local stock market, Head-Market Development, CSE, Niroshan Wijesundara said.

“May was a critical month due to the outbreak of the Covid 19 third wave after the New Year. Therefore, foreign outflow/selling was Rs. 6.4 billion. However, in June foreign outflow/ selling was to Rs. 3.76 billion, which is quite a healthy situation for the market, Wijesundera told the Island Financial Review.

He also said that in May a Rs. 1.5 billion private placement took place with NDB, which has significant foreign investor participation.

Commenting on LOLC Development Finance, he said that the public holds only 0.03 percent shares in it, which are all illiquid shares and sometimes companies do this to ensure free float of shares in the market, which depends on board requirements.

Amid those developments both indices moved downwards yesterday. All Share Price Index went down by 2 points and S and P SL20 went down by 21.65 points. Turnover stood at Rs. 1.35 billion with a single crossing. The crossing took place in JKH, which crossed 1.86 million shares to the tune of Rs. 242.6 million, its shares traded at Rs. 131.

In the retail market, top five companies that mainly contributed to the turnover were Cargills Rs. 134 million (497,000 shares traded), JKH Rs. 103 million (784.2 million shares traded), LOLC Rs. 64.9 million (164,000 shares traded), LOLC Finance Rs. 60.2 million (8.54 million shares traded) and Dipped Products Rs. 57.6 million (1.1 million shares traded)

During the day, the market was sluggish; the overall valued stocks witnessed a decline, while illiquid speculative counters reported gains. LOLC Finance, Commercial Leasing and Finance and Kotmale Holdings contributed to the All Share Price Index. LOLC Finance contributed 9.5 points, Commercial Leasing and Finance 23 points and Kotmale Holdings contributed seven points to the All Share Price Index. All three companies together contributed 40 points to the All Share Price Index while the market was down by 2 points.

Much talked about LOLC Development Finance share price moved down, which contributed 14.5 negative points to the All Share Price Index and Index heavy JKH also contributed nine negative points to the All Share Price Index.

During the day Commercial Bank share price appreciated by 24 percent or Rs 1.60. Its share price moved upto Rs 8.20 from Rs 6.60. LOLC Finance appreciated its price by 13 points and 80 cents. Its share price moved to Rs 7.10 from Rs 6.30 and Kotmale Holdings share price appreciated by 23 percent or Rs 118.50. Its share price moved to Rs 645 from Rs 526.50.

However, Kotmale Holdings, a subsidiary of Cargills, also witnessed an unusual price increase of its shares, similar to LOLC Development Finance. Cargils owned 31.2 million or 99.5 percent in Kotmale Holdings. Only 0.5 percent or 153,200 shares traded in the market. Its is said that due to the small quantity of shares and illiquid nature of its shares in the stock market, dominating the market imparts a wrong signal on the market, which would affect the image of the market, which needs to be investigated propermanner, stock brokers said. During the day63.5 million share volume changed hands in 17912 transactions.


https://island.lk/decline-in-net-foreign-outflow-from-cse-in-june-compared-to-may-seen-as-sending-positive-signal-for-market/

Share this post on: reddit

No Comment.

Back to top  Message [Page 1 of 1]

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