FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ 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
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ 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
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post



Poll

Can there be another Covid-19 wave in Sri Lanka?

Bourse sustains uptrend, foreigners net buyers; Rupee weakens Vote_lcap68%Bourse sustains uptrend, foreigners net buyers; Rupee weakens Vote_rcap 68% [ 178 ]
Bourse sustains uptrend, foreigners net buyers; Rupee weakens Vote_lcap18%Bourse sustains uptrend, foreigners net buyers; Rupee weakens Vote_rcap 18% [ 47 ]
Bourse sustains uptrend, foreigners net buyers; Rupee weakens Vote_lcap13%Bourse sustains uptrend, foreigners net buyers; Rupee weakens Vote_rcap 13% [ 35 ]

Total Votes : 260

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» CLC - Bull & Bear LOCKED HORNS - can blast at any time.
by Sunimal Today at 10:48 pm

» BUY and HOLD CLC Possible to trade above 300/- [CLC= NIFL]
by Peris.G Today at 10:28 pm

» LOFC Direction
by RAVI1980 Today at 10:08 pm

» CLC - worth the Investment
by jaya Today at 9:38 pm

» SCAP just about to run
by Chithi Today at 9:10 pm

» is KCAB going for a split?
by dimi Today at 7:16 pm

» LMF vs LAMP
by C.THARANGA Today at 6:46 pm

» NP Rumored to enter SCAP
by Swissinvest Today at 5:48 pm

» COCR can be attractive
by chandike73 Today at 4:24 pm

» SOFTLOGIC CAPITAL PLC (SCAP.N0000)
by nish84 Today at 4:13 pm

» LLUB comparison between 2016- 2021 Same EPS Trading at Huge discount
by samansilva Today at 2:16 pm

» Shares to Buy
by PhilT Today at 1:59 pm

» CLC placed on a Slingshot . . . !!!
by Elite_SGX Today at 11:48 am

» CLC – the Pinnacle of LOCH
by Elite_SGX Today at 11:48 am

» CLC getting ready for Singapore
by Elite_SGX Today at 11:47 am

» NATIONAL DEVELOPMENT BANK PLC (NDB.N0000)
by ADAD Today at 11:44 am

» AGAL - Long way to go !
by Nimal hemantha perera Today at 11:43 am

» East West ltd
by chandike73 Today at 11:40 am

» BAIRAHA FARMS PLC (BFL.N0000)
by hotstock Today at 11:32 am

» AEL AEL AEL
by sameera_cds Today at 11:29 am

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Bourse sustains uptrend, foreigners net buyers; Rupee weakens

Bourse sustains uptrend, foreigners net buyers; Rupee weakens

Go down  Message [Page 1 of 1]

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

Penny stocks have made a significant contribution towards propelling the Colombo bourse on a six-day upturn as foreigners became net buyers yesterday (04) while the rupee dipped marginally on light importer demand.

Penny stocks have risen much faster than the fundamental counters which are moving slowly and quietly but steadily, brokers said, advising investors not to be blinded by the stock exchange rally.

The All Share Price Index gained 76.23 points to close 1.45 percent higher at 5,327.22 while the Milanka Price Index of more liquid stocks closed 1.51 percent higher at 4,978.43, up by 73.90 points. The S&P SL20 closed at 2,931.41, up 33.65 points gaining 1.16 percent.

The rupee weakened against the greenback on light importer demand.

"The US dollar closed marginally stronger at Rs. 132.30/35 from its opening level of Rs. 132.25/30 in light trade on importer demand. The highest trade for the day was at Rs. 132.35 and lowest was at Rs. 132.25," the Sri Lanka Forex Association said.

The Colombo Stock Exchange recorded a net foreign inflow of Rs. 69.39 million yesterday on purchases amounting to Rs. 152.88 million.

"The indices continued a 6 day uptrend, ending sharply higher on the back of continued buying interest across the board. Turnover levels crossed the Rs. 1bn mark and were led by trades on banking, finance and diversified counters," John Keells Stockbrokers said.

Turnover at the bourse reached Rs. 1,240.02 million.

"Persistent buying interest led the bourse to cement its stay in the green for the 6th consecutive trading session with all three indices trending upwards. Sri Lanka Telecom (+4.2%), Carsons Cumberbatch (+2.3%), Sampath Bank (+4.9%), Ceylon Tobacco (+1.1%) and Distilleries (+3.4%) were among the biggest contributors to the index gain," Softlogic Equity Research said.

"Overall activity levels surged further as the volume touched one - year high of 178.6 million shares, whilst turnover was maintained at LKR1,240 mn," it said.

"The bull run has now persisted for nearly 9 straight trading sessions leading the broader index to advance as much as 380 points (+ c.7.7%). With a considerable percentage of gains have been attributed to the penny play, the quality stocks also have built momentum at a slow, steady & quiet pace. It is advised for the investors not to be blindfolded by the rally and get into play right at the top, as we reiterate that the gains in the speculatives would be short lived. Further we expect the selling pressure to emerge within next few days, given the excessive gains made.

"Persisted buying interest in the penny stock, Free Lanka Capital Holdings, led the counter to register a series of large trades on board. The counter trading at 0.6X PBV continued to increase in value as it touched a high of LKR3.2 (+28%), before closing at LKR3.0 with a 20% advance.

"Buying interest emerged strong in banking sector player Sampath Bank, trading at attractive valuations, as the counter saw several large trades on board including a c.179.7k share parcel dealt at LKR186.0. The counter touched a high of LKR189.1 (+5.2%), before settling at LKR188.6. Further the Non – Voting share of Commercial Bank was also among the day’s top turnover list as it witnessed a large trade of c.130.1k shares being traded at LKR85.0 in the market. The counter gained 2.1% to close at LKR85.9. People’s Leasing Company, another steady player trading below book value, which witnessed foreign accumulation recently, extended interest as the counter saw a block of 3.95 mn shares being crossed off at LKR11.7. The counter closed at LKR11.7 with a 5.4% advance. Meanwhile, Bukit Darah also registered a block of 77.7k shares taken off the market at its 52-week low of LKR644.0.

"Among speculative plays; E-Channelling (+8%), Nation Lanka Finance (+3.6%), Tess Agro (+10.7%), Blue Diamonds [Voting & Non – Voting] (+1.9%, 0%), Ceylinco Seylan Development (+2.4%)& Touchwood (+5.8%) were prominent. E-Channelling continued to witness large deals on board touching a high of LKR5.5 before closing at LKR5.4 after yesterday’s stake change. Steady players including DFCC Bank, Expolanka Holdings, Hatton National Bank, Hayleys and Richard Pieris also grabbed considerable interest during the day’s trading," Softlogic Equity Research said.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=60785

Back to top  Message [Page 1 of 1]

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