Sri Lankan shares closed at their highest in nearly 1-1/2 years yesterday, led by blue chips, due to an improved appetite for risky assets after heavy foreign buying amid hopes of a rate cut at the central bank’s policy meeting later this week.
Sri Lankan shares hit a 16-month high yesterday on expectations of a rate cut at a central bank policy meeting later this month, traders said.
The Colombo Stock Exchange (CSE) is currently in the process of amending regulations pertaining to the listing of debt securities, according to CSE’s Assistant General Manager of Regulatory Affairs, Renuke Wijayawardhane.
Shares hit a sixmonth high yesterday, as investors bought diversified shares and retail investors came back after the Central Bank said there would be room for further monetary policy easing.
Shares hit a two-and-ahalf month high yesterday, led by foreign buying, after the central bank said there would be room for further monetary policy easing, though it freezed the key policy rates for April.
The Sri Lankan rupee gained slightly to its highest close in a year yesterday on dollar inflows from inward remittances and exporter conversions ahead of the traditional New Year, dealers said. The rupee edged up to 125.50/55 to the dollar, from Friday’s close of 125.50/70, its strongest close since April 9, 2012.
The Colombo Stockbrokers Association (CSBA) recently launched a code of ethics and website to promote best practices and standards among its membership.
Royal Ceramic PLC (RCL) last week completed the sale of the controlling stake of Asia Siyaka PLC to Lanka Commodity Brokers Ltd, using a special approval granted by the country’s market regulator.
The Colombo Stock Exchange (CSE) opened its 6th branch office in Anuradhapura yesterday.
Stocks ended tad weaker yesterday to hit a one-week low despite foreign inflows, as investors were worried over upward pressure on interest rates after yields in Treasury bills rose for a fourth straight week.
Sri Lankan stocks edged up for the fourth straight session yesterday to a near fourweek high on foreign buying in blue chips like market heavyweight John Keells Holdings.
Sri Lankan stocks rose for a third straight session yesterday to a near one-month high as investors picked up bank shares, but turnover was low as many investors stayed away because of rising interest rates.
Share purchases in Sri Lankan insurer Asian Alliance Insurance PLC boosted stocks to a two-week high yesterday, with foreign inflows coming close to a one-year high.
Sri Lankan stocks fell to a two-month low yesterday led by large caps with local retail investor sentiment hit by both political and economic concerns, but foreign buying boosted turnover.
Following the conclusion of the capital market road show in Mumbai in February which drew over 150 foreign fund managers, the Colombo Stock Exchange (CSE) is currently planning three more road shows in major commercial hubs in the Asian region.
The Colombo Stock Exchange (CSE) is expected to see the number of listed companies rising to at least 400 by 2016 from the existing 287.
SKM Lanka Holdings (Private) Limited, a subsidiary of Pakistan’s ArifHabib Group, was re-branded as Serendib Stockbrokers (Pvt) Ltd recently.The re-branding of Serendib, which followed the direct takeover of the management of the company by the ArifHabib Group in April last year, is part of a new marketing drive targeting increased foreign investment, particularly from the Group’s existing international clients.
Sri Lankan stocks fell to a five-week low yesterday, dragged by top mobile phone operator, Dialog Axiata, on the back of a drop in earnings. The rupee slid to a seven-week low against the dollar.
The Securities and Exchange Commission of Sri Lanka (SEC) yesterday launched a book titled ‘Ayojanayata Mulapuramu’ with a view to enhance knowledge in investing in the capital market of Sri Lanka.
Sri Lankan stocks slipped from a two-week high yesterday after the central bank said the country had decided not to pursue a new IMF loan after months of discussion. The main share index fell 0.26 percent, or 15.24 points, to end at 5,836.11.
Sri Lankan shares ended lower for a fifth straight session yesterday as retail investors sold telecom shares while foreign interest, mainly in Hatton National Bank, boosted turnover, brokers said.
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