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Sri Lanka Equity Forum » Stock Market Talk » How CSE reacted after Ranil rang the trading commencement bell to mark 30th anniversary

How CSE reacted after Ranil rang the trading commencement bell to mark 30th anniversary

Go down  Message [Page 1 of 1]

DS Wijesinghe


Manager - Equity Analytics
Manager - Equity Analytics
Ranil Wickramasinghe, PM walked in to the Colombo Stock Exchange on 2nd of December 2015 to ring the trading commencement bell, marking the 30th anniversary, flanked by Arjuna Mahendran and Karunanayake on his either side. One expects the market to respond positively andvre-establish lost investor confidence during his 1 year premiership. But how the market reacted was ....market went down by 32 points after he rang the bell. Such was the investor confidence in them even then, the trio who are directly responsible for the sorry state of our economy today.

This is how a website reported his speech then.


Sri Lanka middle class should have bigger stake in stock market: Prime Minister
Dec 02, 2015 17:08 PM GMT+0530 | 1 Comment



ECONOMYNEXT - Sri Lanka's middle class should own more shares but transparency and governance at the capital markets should also improve, Prime Minister Ranil Wickramasinghe said.

"I wanted to see an expansion in the shareholding in this country," Prime Minister Ranil Wickramasinghe said at a ceremony marking the 30th anniversary of the Colombo Stock Exchange.

"The middle class must have a stake."

The Prime Minister said, he was not satisfied with the current situation. Over the last five years, there has been a concentration of wealth, he said.

"Then there are questions of integrity, which we can't run away from and which we have to address," he said.

Prime Minister Wickramasinghe said Chandra Jayaratne, a governance activist had outlined the conflicts in the market.

He said once oversight committees of parliament once established next year will go into the issues.

He said the Securities and Exchange Commission Chairman Tilak Karunaratne had been 'born again'.

Karunaratne was sacked by ousted President Mahinda Rajapaksa after he started probing the so-called stock market mafia over alleged pump and dump scams during a stock market bubble fired by low interest rates.

He was the second SEC chief to step down under pressure from the so-called stock market mafia. The current administration is also in hot water over a massive bond market scam.

Wickramasinghe said the most modern laws not seen in South Asia will be brought to make Sri Lanka a financial centre with territorial taxation and an overhauled exchange management law.

He said a number of state entities will be listed on the Colombo Stock Exchange next year.

1 COMMENTS

DS
December 03, 07:16 AM
Sadly after he rang the bell to commence trading on 2nd December, the ASPI fell by 32 points. The government need to restore investor confidence to boost investments in to the country

Teller

avatar
Moderator
Agreed. A good point..

Ran49


Manager - Equity Analytics
Manager - Equity Analytics
Past is past..... we are moving to the future... Don't take shit.politics here....

ruwan326

avatar
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Ran49 wrote:Past is past..... we are moving to the future...  Don't take shit.politics here....
Yes,

if you want to make a better country go to parliament.......
commenting here won't change a damn thing.

Most of the valuable shares @ 52weeks low Very Happy Very Happy Very Happy
collect and win after the market goes up.........
Need more time for investment, if you are a day trader need to be careful and do your analysis well.

nigma


Manager - Equity Analytics
Manager - Equity Analytics
52week low shares මොනවාද.....

DS Wijesinghe


Manager - Equity Analytics
Manager - Equity Analytics
@Ran49 wrote:Past is past..... we are moving to the future...  Don't take shit.politics here....
I talk on issues, persons directly impacting the economy and capital market, whether it is a government leader, politician, a tax proposal, policy decision, etc. I do not make false and calumnious attacks on the integrity of a company CEO or a government leader.

Future is not magic. It is only the reality of the past and what is done today. Today was the future of the Jan 2015 mini budget. Today was the future when Ranil and Arjun Mahendran in Feb 2015 artificially raised interest rates by 3% to pocket Rs. 13 Billion profit.

I see Ranil as the 'Current CEO' of the company 'Sri Lankan Economy'. Ranil took over the 'Sri Lankan Economy' as the new CEO, on Jan 9th 2015, replacing the former CEO Mahinda, as majority of the shareholders voted him out, asking the new CEO to bring fraudulent corruptions under control and improve our economy. People took this decision as Ranil and his new management team alleged frauds by the previous management and asked them be appointed instead, promising a 'Clean' administration & a rosy future for the shareholders. They promised to implement better, more sound strategies to develop Sri Lanka to beat other competing nations in Asia.

In any company if the CEO and key members of his management team are caught with massive defrauding of shareholder funds, they are removed by the shareholders, no matter even if they have performed well. In this case Ranil & team had performed miserably so much so the growth rate of 'Sri Lankan Economy' is amongst the lowest in whole of Asia.

No investor will want the companies he is investing in to be run by incapable management and fraudsters. I wont. I don't think any other investor will

Teller

avatar
Moderator
Yes ,most st the shares are 52 weeks low due to poor earnings. I have identified 95 companies so far in losses and yet to study further. BasicallyCompanies earnings will decide the share price in any type of Stock market in the world. That's the most important to determine the share prices.
When we consider companies in CSE ther bitter truth is minimizing of profit or increased losses except some few companies.
In this case share prices to be adjusted accordingly.

Ran49


Manager - Equity Analytics
Manager - Equity Analytics
My advice is do not sell your shares... dont ask any advice from.negative parties. Go with technical analysis and fundamental shares...
Eg Look LIOC... still holding his position 32 33 Level... also GRAN....
CHECK AND INVEST...

DS Wijesinghe


Manager - Equity Analytics
Manager - Equity Analytics
@ruwan326 wrote:
@Ran49 wrote:Past is past..... we are moving to the future...  Don't take shit.politics here....
Yes

if you want to make a better country go to parliament.......
commenting here won't change a damn thing.

Most of the valuable shares @ 52weeks low Very Happy Very Happy Very Happy
collect and win after the market goes up.........
Need more time for investment, if you are a day trader need to be careful and do your analysis well.

Dear Ruwan
It's a myth that genuine investors should not talk about leaders. Even the greatest investor on this planet, Warren Buffet, regularly talk on the effectiveness of their leaders, without going to the Congress(Parliament). George Soros, Warren Buffet publicly campaigned for Hillary Clinton which Trump won. But they are smart not to mix their political views with their investment strategies. 


Investing based on 52 week lowest, I have commented under a separate topic on long term investing.


Long term investors will always win and happy, successful long term investing!!!

Ran49


Manager - Equity Analytics
Manager - Equity Analytics
Yeah if you check TJL.. you are a now millionair

Chinwi

avatar
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Investing on 52 lowest - a deathtrap sometimes.

Ran49


Manager - Equity Analytics
Manager - Equity Analytics
Check LIOC n GRAN... still holding their position... they will never give up...

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