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
Market Place

Add an ad

View all ads

Latest topics

» How Selvanthan's control Beer Industry in Sri Lanka
by hammurabi Today at 4:44 pm

» Copreus (Pvt) Ltd - Need some Information
by Miss-Sangeetha Today at 3:09 pm

» 8 Finance companaies to be closed very soon
by wisdom79 Today at 7:36 am

» Why AAIC Should trade above RS.50/-
by wisdom79 Today at 7:25 am

» Sri Lanka’s largest pension fund EPF return to Colombo Stocks
by samaritan Yesterday at 4:04 pm

» Head and Shoulders Top
by freeforexsignals2020 Yesterday at 8:49 am

» UNION BANK (UBC) to be takeover by Union bank of india
by aklt Yesterday at 1:20 am

» INVEST ON AAIC, HASU, UAL.... YOU WILL NEVER WORRY......
by wisdom79 Fri May 24, 2019 7:42 pm

» Pakistan’s trade with Sri Lanka comes to a halt
by soileconomy Fri May 24, 2019 7:35 pm

» Daily Stock Market Update
by Teller Fri May 24, 2019 7:18 pm

» Market will test 4700
by karuna2 Fri May 24, 2019 12:25 pm

» Keep eye on Politics
by samaritan Fri May 24, 2019 11:49 am

» CSE from Dawn of Peace to Rebirth of Terrorism
by Yahapalanaya Fri May 24, 2019 9:59 am

» EAST Steady at 18
by mark Fri May 24, 2019 9:25 am

» New Support Level 5300
by hammurabi Thu May 23, 2019 8:47 pm

» LIOC upward curve
by karuna2 Thu May 23, 2019 5:57 pm

» SEC yet to publish its 2017 Annual Report
by Teller Thu May 23, 2019 5:10 pm

» HNB Assurance March net down 83-pct
by Teller Thu May 23, 2019 1:18 pm

» PABC net down 13-pct in March; loans contract
by Teller Thu May 23, 2019 1:15 pm

» Indian stocks jumped to record highs
by Teller Thu May 23, 2019 1:13 pm

» modi wins-India to no1 in the world
by Teller Thu May 23, 2019 1:07 pm

» Hayleys revenue up 34% YoY to Rs 219 bn in FY 18/19
by Teller Thu May 23, 2019 1:02 pm

» undervalued stock
by Teller Thu May 23, 2019 1:00 pm

» CIND , 10% guaranteed return
by Teller Thu May 23, 2019 12:57 pm

» INVITATION TO FORUM MODERATORS
by Agape Thu May 23, 2019 8:52 am

» Reputation???
by Uaecoindubai Wed May 22, 2019 7:12 pm

» AIA INSURANCE DE-LISTING (CTCE)
by lokka1 Wed May 22, 2019 12:55 pm

» Sri Lanka’s Top 10 Imports
by Gajaya Wed May 22, 2019 11:16 am

» Top 10 Small Scale Business ideas & Opportunities in Sri Lanka 2019
by Gajaya Wed May 22, 2019 11:15 am

» when bank lending rates put down ?
by nuwanmja Wed May 22, 2019 11:01 am

» Sri Lanka's EPF enters stock market with blood in the streets
by God Father Tue May 21, 2019 8:21 pm

» Sri Lanka caught in the big power conflicts
by God Father Tue May 21, 2019 8:16 pm

» High Profile Selling at EAST
by Uaecoindubai Tue May 21, 2019 4:43 pm

» A Trader’s Guide to FIX Engine
by Brenda John Tue May 21, 2019 11:24 am

» Reasons for market to crash
by Uaecoindubai Tue May 21, 2019 10:08 am

» ගෙවුම් ශේෂය, වාහන බලපත් හා ඩොලරයේ මිල
by ChooBoy Mon May 20, 2019 5:59 pm

» Terrorism and its Impact on the Sri Lankan Economy
by ChooBoy Mon May 20, 2019 5:41 pm

» Sri Lanka Equity Market Place
by Sstar Mon May 20, 2019 4:36 pm

» Sri Lanka Equity Market Talk
by Sstar Mon May 20, 2019 12:23 pm

» Sri Lanka Equity Market Help
by Sstar Mon May 20, 2019 12:18 pm

» LOFC IN FOR A BIG RUN
by stockback Sun May 19, 2019 5:20 pm

» Look PAP Amazing company
by Uaecoindubai Sun May 19, 2019 5:13 pm

» Sri Lanka Equity Market Place
by Uaecoindubai Sun May 19, 2019 5:13 pm

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

ruwan326
Senior Vice President - Equity Analytics
Senior 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