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Daily Market Conversation - Sun May 17, 2020 11:11 am
View this post on InstagramIf you are holding any of these stocks, they may have have already left the building. Since the market reopened, everyone tried to dump stocks on the first day which barely anyone could since the market lasted only 38 secs. If you are old school, by the time you rang your broker, the market had finalized trades. However, foreign institutional investors that comprise frontier funds have been slowly shedding off their positions during last week to local retail and HNWI investors [the big boys in lanka]. Fundalyse Intelligence believes Norges Wealth Fund, a massive global sovereign wealth fund operated by the Norges Bank Investment Management has been selling off its investments in frontier markets to cover up the government expenses and mitigate Norways downturn from the oil crash and the pandemic outbreak which has wiped out approximately $113 + billion during the first quarter of this year. Last week there has been massive dumping of the companies in large volumes which Norges had holdings; especially the banking sector which isn't sexy anymore since the outlook of our economy doesn't look fancy in the foreseeable future and the decision made by Central Bank banning banks declaring dividends and other restrictions. Once rock star ticker John Keells Holdings [JKH.N0000] has been a victim of the recent sell-off since their glamour has been wiped out from the pandemic which tanked the stock price to levels which were last seen during the last stages of the civil war. Fundalyse Intelligence believes our big boys such as Harry Jayawardene and father-son duo Sohli and Rusi Captain and few others could be the bottom trawlers since they have been lusting on to them for a long time. Follow us to find out whether your stocks which could fall further are on the list. DM us and we will provide you the unblurred complete insights to you. #coronavirus #norges #srilanka #equities #stockmarketcrash @csemedia @lifeatjkh
