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Nov 27, 2011 (LBT) – Indices slumped further during this week as well, hitting the lowest point mark for the year, breaking through its technical support level of 6000.
The expropriation bill in taking over under performing companies to the state, devaluing the rupee, which was one of the salient features on the 2012 budget, and the notable rise in rates (bill bond and call money) are believed to be affecting overall positive sentiments in the market.
In addition, as the market is heading towards the upcoming holiday mood, could push down the indexes further.
Meanwhile, it is quite lamenting, that despite positive factors such as the booming foreign arrival count that exceeded the targeted 750,000 for the year, amendments to taxes, which portrays to be favourable for many sectors and the increase in the rupee receipts of the dollar income, with the devaluation was not recited positively by the market.http://lbt.lk/stock-market/movement/796-lbt-markets-weekly-report
The expropriation bill in taking over under performing companies to the state, devaluing the rupee, which was one of the salient features on the 2012 budget, and the notable rise in rates (bill bond and call money) are believed to be affecting overall positive sentiments in the market.
In addition, as the market is heading towards the upcoming holiday mood, could push down the indexes further.
Meanwhile, it is quite lamenting, that despite positive factors such as the booming foreign arrival count that exceeded the targeted 750,000 for the year, amendments to taxes, which portrays to be favourable for many sectors and the increase in the rupee receipts of the dollar income, with the devaluation was not recited positively by the market.http://lbt.lk/stock-market/movement/796-lbt-markets-weekly-report
