POLL: Where would ASPI be by the end of this year (on 31 December 2023)?

kasunkumara

kasunkumara

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Where is ASPI headed? Would love to hear your expert opinion. Thank You.

kasunkumara

kasunkumara

Senior Equity Analytic

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Join date : 2023-02-08

Sri Lanka’s shares gain for 15th straight sessions

Source: https://economynext.com/sri-lankas-shares-gain-for-15th-straight-sessions-126443/

Sri Lanka stocks closed up on Friday after domestic bond restructuring assurances and fears on investing in the banking sector diminished, an analyst said.

The All Share Price Index (ASPI) edged up 0.72 percent or 79.71 points to 11,106.54, while the most liquid index S&P SL20 was up 0.64 percent or 20.46 points to 3,231.83, according to exchange provisional data. The market has continuously being seeing gains on domestic debt optimization (DDO) since July 04, there has been profit taking and selling interest in the banking sector over constant gains in the past 13 sessions. Sri Lanka’s announced domestic debt restructuring plan has avoided adding to the “fragility” of the banking system, World bank Country Director Faris Hadad-Zervos said.

“The trick is to do it in a way that does not impact the financial sector and does not cause fragility in the financial sector,” Hadad-Zervos told a forum organized by Sri Lanka’s Press Club. Sri Lanka kept banks, which have already been hit by bad loans and mark-to-market losses out of re-structuring plan. Hadad-Zervos said initial analysis seems to indicate that the debt restricting is done in a sustainable way but without further impacting the banking sector. Sri Lanka’s cabinet of ministers had approved changes to the country’s income tax law applicable to superannuation funds facilitate domestic debt restructuring, Minister Bandula Gunawardana said. Sri Lanka authorities have said pension and provident funds that do not agree to extend maturities of their Treasury bonds will be taxed at 30 percent instead of the current 14 percent.
The market generated a turnover of 3.2 billion rupees, majority of the revenue had come from the banking sector brining in 905 million rupees, while material sector brought in 465 million rupees and the capital sector brought in 408 million rupees. The yearly average stands at 1.7 billion rupees.

The overall market is moving up on domestic debt optimization assurances, picking up several stock counters in the market such as the capital sector. Top gainers were Sampath Bank, Ceylinco Insurance and Melstacorp. The market saw a net foreign outflow of 24 million rupees.(Colombo/July21/2023)

SamJay1974

SamJay1974

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සැප්තැම්බර්/ඔක්තෝබර් වනවිට Bull Run එකක් බලාපොරොත්තු වීමට පෙරනිමිති බහුතරයක් මේ වනවිට පෙන්වුම් කරමින් තිබේ. Banking sector එක, Tourism sector එක, LIOC, EXPO, HAYL සහ තවත් “වැදගත්” counters දිගු ගමනකට සැදී පැහැදිමින් ඇති බවක් දක්නට හැකිය. තීරණය ඔබ සතුය!
My opinion only! Not a buy or sell recommendation! Definitely not a promotion! Trade wisely or keep your money under the mattress POLL: Where would ASPI be by the end of this year (on 31 December 2023)? 1f609

POLL: Where would ASPI be by the end of this year (on 31 December 2023)? 1f609

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POLL: Where would ASPI be by the end of this year (on 31 December 2023)?

1 POLL: Where would ASPI be by the end of this year (on 31 December 2023)? Fri Jul 14, 2023 7:37 pm

kasunkumara

2 Re: POLL: Where would ASPI be by the end of this year (on 31 December 2023)? Sat Jul 22, 2023 2:03 am

kasunkumara

3 Re: POLL: Where would ASPI be by the end of this year (on 31 December 2023)? Sat Jul 22, 2023 11:00 pm

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4 Re: POLL: Where would ASPI be by the end of this year (on 31 December 2023)?

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