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

සිංහල පරිවර්තනය
Submit Post
Submit Post

Latest topics

» MARKET CRASH - GUARANTEED
by Maharaja Yesterday at 10:20 pm

» ALHP WILL MOVE UP SOON
by wisdom79 Yesterday at 9:38 pm

» Stock Broker Companies for sale
by janith123 Yesterday at 9:26 pm

» Fresh push to woo UK investors to SL
by ruwan326 Yesterday at 8:03 pm

» Daily Foreign Transactions
by ruwan326 Yesterday at 7:59 pm

» Daily Stock Market Update
by Insights Equity Yesterday at 6:50 pm

» Central Bank will intervene if rupee moves on speculation – official
by Yahapalanaya Yesterday at 6:18 pm

» FUTURE WINNING STOCKS AT BOTTOM LEVEL
by Yahapalanaya Yesterday at 6:15 pm

» US Share Market Crash Seems to Good for Sri Lankan/Asian Share Market and Currencies
by Yahapalanaya Yesterday at 5:26 pm

» Nimal returns to stock market
by sapumal Yesterday at 4:53 pm

» Stock price decline leaves John Keells (JKH) vulnerable to a takeover by Sri Lanka’s oligarchs
by ruwan326 Yesterday at 8:08 am

» අනං## මනං ##
by ruwan326 Sat Oct 13, 2018 9:45 pm

» Weekly Stock Market Roundup
by Insights Equity Fri Oct 12, 2018 8:55 pm

» Dealing by directors
by ruwan326 Fri Oct 12, 2018 8:08 pm

» Summary of Key Announcements during the week
by ruwan326 Fri Oct 12, 2018 8:06 pm

» Arjun Alosius and Mano Thittawella
by janith123 Fri Oct 12, 2018 5:29 pm

» Global stock markets plunging, Sri Lanka’s CSE takes no notice - 11 October 2018
by EquityChamp Fri Oct 12, 2018 2:24 pm

» Stock Market Cartoons
by ruwan326 Fri Oct 12, 2018 1:42 pm

» HOW TO STABILIZE RUPEE
by EquityChamp Thu Oct 11, 2018 10:26 pm

» Sri Lanka: Stock Market - Blood Bath on First Day of Ranil's fourth Term lead UNP Government - over 500,000 Investors are awaiting Rs.500,000 per investor Margin Trading promise given in UNP Manifesto amounting to over Rs.250 Billion
by ranferdi Thu Oct 11, 2018 8:44 am

» Dhammika shows way out of middle income trap
by ruwan326 Thu Oct 11, 2018 8:02 am

» Our forum moderator Teller narrowly missed the year 2018 Nobel Prize for economics science to a pair of American economists, William D. Nordhaus and Paul M. Romer
by janith123 Wed Oct 10, 2018 8:53 pm

» Learn Forex Trading for Beginner
by yogi11137 Wed Oct 10, 2018 3:12 pm

» Pakistan’s debt problem
by shalika.56 Wed Oct 10, 2018 12:09 pm

» EUR/USD is in a downtrend and needs to clear 1.1650
by GersonH Tue Oct 09, 2018 8:06 am

» USD/JPY: Buy Or Sell?
by GersonH Tue Oct 09, 2018 8:03 am

» BFL & poultry Stock
by janith123 Mon Oct 08, 2018 8:26 pm

» DIVIDEND ANNOUNCEMENTS- OCT/NOV
by ruwan326 Mon Oct 08, 2018 7:35 pm

» NDB RIGHTS
by DS Wijesinghe Mon Oct 08, 2018 12:42 pm

» Fuel price formula will be useless if we reveal it: CBSL Senior Deputy Governor
by ruwan326 Mon Oct 08, 2018 8:01 am

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk » Sri Lankan shares extend gains to 2-week closing high

Sri Lankan shares extend gains to 2-week closing high

Go down  Message [Page 1 of 1]

ruwan326

avatar
Vice President - Equity Analytics
Vice President - Equity Analytics
Sri Lankan shares rose for a fourth straight session on Friday and posted their highest close in two weeks as investors bought banking and diversified stocks, stockbrokers said.
But a lack of supportive news amid concerns over political uncertainty capped the upside, analysts said.
The Colombo stock index ended 0.32 percent higher at 6,138.08, its highest close since June 29. It rose 0.5 percent this week, its first weekly gain in eight weeks.
“Market sustained its momentum. Local investors have got activated and they are buying on valuations,” said Hussain Gani, deputy CEO, Softlogic Stockbrokers.
Turnover stood at 626 million rupees ($3.92 million), less than this year’s daily average of 900.5 million rupees.
The benchmark stock index hit its lowest close since March 30, 2017 on July 4, and has declined for 19 sessions in 26 through Friday.
A downward revision in economic growth estimate by the central bank has hit sentiment, analysts said.
Economic growth in 2018 is likely to be between 4 percent and 4.5 percent, falling short of an earlier estimate of 5 percent, Central Bank Governor Indrajit Coomaraswamy told reporters last Friday, adding that the earlier estimate was “ambitious”.
Foreign investor net sold equities worth 4 million rupees on Friday, extending the year-to-date net foreign sale to 2.4 billion rupees.
Shares in Lion Brewery (Ceylon) Plc rose 8.9 percent, Nanda Investment Plc ended 12.4 percent higher, Cargills (Ceylon) Plc climbed 1.8 percent and conglomerate John Keells Holdings Plc gained 0.4 percent.
Investors are waiting for some positive news both on the economic and political front, said analysts, adding that the government’s policy implementation had been sluggish since both main parties in the ruling coalition lost local polls in February.
The International Monetary Fund said on June 20 that Sri Lanka’s economy remained vulnerable to adverse shocks because of sizable public debt and large refinancing needs.

http://bizenglish.adaderana.lk/sri-lankan-shares-extend-gains-to-2-week-closing-high/

Back to top  Message [Page 1 of 1]

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