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

LISTED COMPANIES

Submit Post



Poll

Can there be another Covid-19 wave in Sri Lanka?

 
 
 

View results

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by EPS Today at 11:17 am

» Best Time to Collect Cic X
by Value Pick Today at 8:15 am

» Why is First Capital Holdings being dumped?
by Berryfund Today at 6:29 am

» AGST can move
by FINANCIAL CHRONICLE™ Yesterday at 11:58 pm

» COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000)
by newone Yesterday at 11:57 pm

» AGSTAR PLC (AGST.N0000)
by FINANCIAL CHRONICLE™ Yesterday at 11:57 pm

» LOFC AND CLC Target Price??
by xhunter Yesterday at 11:06 pm

» RAIGAM WAYAMBA SALTERNS PLC (RWSL.N0000)
by Bakkabwoi Yesterday at 8:10 pm

» Twitter accounts related to the stock market
by Bakkabwoi Yesterday at 8:09 pm

» TOKYO CEMENT COMPANY (LANKA) PLC
by xhunter Yesterday at 7:55 pm

» LOFC LOFC LOFC
by madukp Yesterday at 6:49 pm

» How Equity Emerged the Top Asset Class During a Pandemic
by samaritan Yesterday at 6:30 pm

» HVA FOODS PLC (HVA.N0000)
by rajini Yesterday at 12:38 pm

» Ambeon Holdings fully owned subsidiary MillenniumIT ESP gears for global expansion
by samaritan Yesterday at 11:39 am

» Sri Lanka IT and consultant industry moved closer to LKR 10Bn in 2Q 2021
by samaritan Yesterday at 11:36 am

» The Economy will be steered towards continued stability - CB Governor
by samaritan Yesterday at 10:04 am

» Asia/Capital Trust LLUB Target Price Rs 150..
by rajithasahan Wed Sep 15, 2021 10:16 pm

» Hotel sector momentum
by Bakkabwoi Wed Sep 15, 2021 8:17 pm

» First capital stock brokers
by RS Wed Sep 15, 2021 8:04 pm

» BRR will move soon
by Tissa Wed Sep 15, 2021 7:36 pm

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Sri Lanka share hits record as interest rates move slowly Tuesday August 24, 2021

Sri Lanka share hits record as interest rates move slowly Tuesday August 24, 2021

5 posters

Go down  Message [Page 1 of 1]

CITIZEN

CITIZEN
Manager - Equity Analytics
Manager - Equity Analytics

[size=18]ECONOMYNEXT – Sri Lanka’s main stock index hit a fresh record high on Tuesday after crossing the 8,700 psychological benchmark as investors bought shares with the central bank’s tightening measures yet to impact the bourse, brokers said.
The index touched 8,815.08 points, it’s historical high, before retreating to close at 8,667.95 with a 2.22 percent gain for the day. The S& P SL20 index of more liquid stocks gained 0.90 percent or 28.44 points to close at 3,176.40.
The day’s turnover was 9.9 billion rupees, well over this year’s average daily turnover of 3.9 billion rupees.
“Investors have very little option with the excess money and low interest rates,” a stock broker said asking not to be named.
“The central bank’s policy rate hike has not started to bite yet.”
The central banks started an overnight repo auction to withdraw liquidity for the first time in many months as it ran low on reserves.
On Monday, ASPI hit gained above 3 percent despite a 10-day lockdown, as investors bought stocks that are expected to perform well in the future despite possible increased interest rates.
Sri Lanka went for a 10-day lockdown on Friday through August 30 after several allies of the ruling coalition and influential Buddhist monks appealing to President Gotabaya Rajapaksa to go for a lockdown to control COVID-19 deaths and spreading.
Analysts said the unusual gain could be due to investors focusing on the risky assets during the lockdown, despite prevailing risks of gradual tightening of interest rates.
The central bank raised the key policy rates by 50 basis points from the record high and increased banks’ reserve ratio by 2 percent with effect from Sept.1.
Sri Lanka also has raised a de facto policy rate involving a ceiling price on Treasuries auction by 55 basis points to 5.93 percent from 5.38 percent, after the overnight injection rate was raised to 6.00 percent Thursday.
Sri Lanka stocks have been on the rise partly due to record low-interest rates, excess liquidity in money markets, and some businesses being disrupted due to import controls triggered by money printing. The trend of net foreign selling has been continuing since early last year.
Analysts expect a market correction soon when the central bank’s tightening measures start to bite.
Sri Lanka’s pandemic situation has been worsening with COVID-19 daily death toll has been recording a fresh record high in most of the days in the last week. The county saw a fresh record of 194 deaths along with 4,355 new infections on Monday (23).
The day’s gain was led by Commercial Leasing and Finance, LOLC Fiance and LOLC Holdings.
LOLC Holdings rose 16 rupees to close at 507.50 rupees a share.
LOLC Finance, subsidiary of LOLC, up 1.80 rupees to close at 12.60 rupees a share while LOLC Development and Finance fell 17.25 rupees to close at 456.00 rupees. Analysts says LOLC groups $1 billion investment in Colombo Port City is seen as positive and made the stocks attractive.
Expolanka, which has a significant export component in its business fell 2.75 rupees to close at 120.00 rupees a share.
Foreign investors, however, sold a net 243 million worth of shares on Monday, and the market has suffered a net foreign outflow of over 36.4 billion rupees so far this year.
The bourse saw 107 stocks gaining against 91 falling on Tuesday. (Colombo/August24/2021)

Tags:
COLOMBO STOCK EXCHANGESRI LANKA STOCK MARKET
[/size]
Leave a Comment
[size]
Your email address will not be published. Required fields are marked *

Comment
Name *
Email *
Save my name, email, and website in this browser for the next time I comment.

Sri Lanka share hits record as interest rates move slowly Tuesday August 24, 2021  DT_SP_Axiata-Lab-300x250-1
Sri Lanka share hits record as interest rates move slowly Tuesday August 24, 2021  Daily-subscribe


MOST VIEWED
AGRICULTURE
Sri Lanka share hits record as interest rates move slowly Tuesday August 24, 2021  Organic-fertilzier-lg
Sri Lanka allocates 3.8 bn for organic fertilizer purchase, set to import nutrients 
2 mins read

BONDS & FOREX
Sri Lanka share hits record as interest rates move slowly Tuesday August 24, 2021  Dollar-rupee-forex-1
Sri Lanka rupee falls to 221 to US dollar, margins widen without price transparency
2 mins read

MARKETS
Sri Lanka share hits record as interest rates move slowly Tuesday August 24, 2021  Colombo-Stock-Exchange-2
Sri Lanka share hits record as interest rates move slowly
2 mins read

HEALTH
Sri Lanka share hits record as interest rates move slowly Tuesday August 24, 2021  Sinopharm-vaccine-lg
Sri Lanka acquires one million more doses of Sinopharm
2 mins read

HEALTH
Sri Lanka share hits record as interest rates move slowly Tuesday August 24, 2021  Coronavirus-lg
Sri Lanka Coronavirus deaths; 91-pct not vaccinated, 77-pct above 60 years
2 mins read


Sri Lanka share hits record as interest rates move slowly Tuesday August 24, 2021  Lineandarrow

[/size]

reyaz

reyaz
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Dollar is 230 / 238.59 LKR. ANC is psychopath on the eyes of billionaires. No foreign investor in their right mind will invest in Sri Lanka!

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
A Broker told me that the main reason for the present situation is the use of excess
money of importers for short time gains. They buy and sell the same share again and again as they can't utilize their money for imports

I would like to know the correctness of the above statement  of a Broker



Last edited by D.G.Dayaratne on Wed Aug 25, 2021 2:53 pm; edited 1 time in total (Reason for editing : Typing mistake)

samaritan


Moderator
Moderator
@D.G.Dayaratne wrote:A Broker told me that the main reason for the present situation is the use of excess
money of importers for short time gains. They buy and sell the same share again and again as they can't utilize their money for imports

I would like to know the correctness of the above statement  of a Broker
If so, they may not return to their import business.Sri Lanka share hits record as interest rates move slowly Tuesday August 24, 2021  Icon_lol


_________________




The biggest risk in life is not taking any risk at all.

Great1


Senior Equity Analytic
Senior Equity Analytic
@reyaz wrote:Dollar is 230 / 238.59 LKR. ANC is psychopath on the eyes of billionaires. No foreign investor in their right mind will invest in Sri Lanka!
Huge benefit for Export giants

But, as a Country, we have to suffer

Sponsored content


Back to top  Message [Page 1 of 1]

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