Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum 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
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

Submit Post
සිංහල පරිවර්තනය
Search
 
 

Display results as :
 

 


Rechercher Advanced Search

Forum Disclaimer

The information contained in this forum have been submitted by third parties directly without any verification by us. The information available in this forum is not researched or purported to be complete description of the subject matter referred to herein. We do not under any circumstances whatsoever guarantee the accuracy and completeness information contained herein.

www.srilankaequity.com its blogs, forums, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not in any way be responsible or liable for loss or damage which any person or party may sustain or incur by relying on the contents of this report and acting directly or indirectly in any manner whatsoever.

Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility, www.srilankaequity.com its blogs, forums, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. The information on this website is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk » Sri Lanka: Net foreign inflow into Sri Lankan equities top Rs. 7.71 billion year to date

Sri Lanka: Net foreign inflow into Sri Lankan equities top Rs. 7.71 billion year to date

Go down  Message [Page 1 of 1]

SelvaKolla


Stock Trader
COLOMBO, April 12 (Reuters) - Sri Lankan shares extended gains for an eleventh straight session, posting their biggest single-day gain in more than two years, as foreign investors aggressively bought blue chip stocks.

The Colombo stock index ended 1.55 percent firmer at 6,402.99, its highest close since Nov. 15, 2016. The index recorded its biggest percentage gain since Feb. 6, 2015.

The index has gained 1.75 percent during the week, posting its third weekly gain in eight. It has climbed 7.16 percent in the last 11 sessions through Wednesday.

The market has seen fund inflows for 16 straight sessions through Wednesday, with foreign investors buying a net 5.22 billion rupees ($34.31 million) worth of equities in the same period.

They net bought shares worth 319 million rupees on Wednesday, raising the year-to-date net foreign inflow into equities to 7.71 billion rupees.


"Continuous foreign buying in John Keells Holdings and Ceylon Tobacco Company helped the gain," said Atchuthan Srirangan, a senior research analyst with First Capital Holdings PLC.

Shares of Ceylon Tobacco Company plc jumped 9.8 percent, while Ceylon Cold Stores Plc gained 2.87 percent and biggest listed Lender Commercial Bank of Ceylon Plc rose 2.66 percent and conglomerate John Keells Holdings Plc rose 1.33 percent.

Turnover stood at 2.37 billion rupees, the highest since Feb. 28 and well above this year's daily average of 780.7 million rupees.

Sri Lanka will celebrate its traditional new year this week and the markets will be closed on Thursday and Friday. ($1 = 152.1300 Sri Lankan rupees)

reyaz

avatar
Manager - Equity Analytics
Manager - Equity Analytics
Be careful what you wish for. This 'foreign buying' may be a local fly in disguise

TARGET


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@reyaz wrote:Be careful what you wish for. This 'foreign buying' may be a local fly in disguise
How is that? Can you explain more ?

Teller

avatar
Moderator
Agree with Reyaz . Sharks can control any type of stock market . It's happening here currently . That's why less faith on CSE now . Not much trust .
It's good for a medium-long term investors only

kovida

avatar
Manager - Equity Analytics
Manager - Equity Analytics
Be careful what you wish for. This 'foreign buying' may be a local fly indisguise


I would like to know how it happens. Please elaborate it further.

kovida

avatar
Manager - Equity Analytics
Manager - Equity Analytics
@reyaz wrote:Be careful what you wish for. This 'foreign buying' may be a local fly in disguise
Still I am awaiting for a an answer. Either you or TELLER could clarify it. How it could be a local fly.

Teller

avatar
Moderator
It can arise in several ways . Suppose you are a local business owner with billions of rupees in hand but some earnings want to take out from the country. In that scenario you want to launder this cash . How you can do this? There are 8-12 ways to do so .
As example you are going to start a business but you want to buy machineries from UK . The Actual invoice will be 1 million pounds . Instead of this one million , you advise to supplier to be invoiced 2 million with some fake description . When machine arrive to Sri Lanka, you may pay some additional taxes but you can easily take your money out. So those funds can be utilized with your foreign agent to buy shares.
The second thing , local investor can negotiate with some international investors to buy on behalf of him with a hidden agreement.
These will be accounted as foreign purchased.
Currently I buy from Indian market too but I don't have account . So invest my Indian friends name . The same thing doing by my Indian friend too. he invests CSE by my name . We buy shares equivalent amount in USD and enjoy . This is based on our friendship not recommend for others.

reyaz

avatar
Manager - Equity Analytics
Manager - Equity Analytics
Teller put it beautifully  Very Happy 
Point to be noted that politics also can be used instead or in line with long time bokka friendship  bounce

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Teller's second scenario may be more active in Sri Lanka. First option adds extra money such as import tax to investment cost.

Back to top  Message [Page 1 of 1]

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