Category: Markets
‘s stock exchange: Few people control it & few people rig it, says President
President Ranil Wickremesinghe says that he has questions about putting shares of the state-owned enterprises onto the current Stock Exchange. “What is the platform for restructuring? Many of you say, send it to the Stock Exchange.I have my questions about it. The Stock Exchange is today identified not with the London Stock Exchange,” Wickremesinghe pointed […]
SEC overhauls regulations; introduces a Code for Collective Investment Schemes
The Securities and Exchange Commission of Sri Lanka (SEC), the securities market regulator has prepared Rules pertaining to Market Institutions, Market Intermediaries and a Code for Collective Investment Schemes following the enactment of the new Securities and Exchange Commission Act No. 19 of 2021. These Rules which were made in terms of the powers vested in […]
CFA Capital Market Awards 2022 fetes best in the investment profession
The ninth annual CFA Capital Market Awards, organized by the CFA Society Sri Lanka, was held on Wednesday (29 June) at the Oak Room of Cinnamon Grand Colombo, recognizing and rewarding excellence in the local capital markets, with this year’s event focusing on the theme ‘Blockchain Revolution in Sri Lanka’s Capital Market’. Delivering the opening […]
Sri Lanka exports recorded 5-billion-dollar mark in five months
Earnings from the merchandise exports increased by 9.9 % y-o-y to US$ 980.2 Mn in May 2022 as per the data released by the Sri Lanka Customs. This was mainly due to the increase in earnings from export of Apparel & Textiles, Coconut based products and Electrical & Electronic Components. Table 1: Merchandise Export Performance […]
We will support govt in reinstating previous tax regime & IMF reforms: Eran Wickramaratne
Statement on Sri Lanka Defaulting on Foreign Debt Payments by Eran Wickramaratne M.P., Former State Minister of Finance On 12 April 2022, Sri Lanka suspended repayment on most of the government’s external foreign currency debt, including the International Sovereign Bonds (ISBs) and bilateral debt. With the end of the 30-days grace period since the ISB […]
CSE consolidates gains on heavier trading volume
May 18, 2022 (LBO) – Colombo stocks consolidated gains after a recent sharp three day rally. Major indices finished down slightly on the day but are still up over 10% in the last week. For the first time during the recent upsurge, daily trading reached a value of approximately US$10mn. This level of volume would […]
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May 17, 2022 (LBO) – The stock market in Sri Lanka continued its surge for the third consecutive day, with the two major indices finishing up in the range of 5-6% on the trading session. Volumes continued to be relatively light, with less than US$10mn worth of stocks traded on the day. In the last […]
Sri Lankan mutual funds’ outflows rise amid economic turmoil: Fitch
The Sri Lankan mutual fund industry experienced large outflows in March 2022 with total assets under management (AUM) shrinking by more than 8% to LKR178 billion (around USD0.5 billion), based on Unit Trust Association of Sri Lanka (UTA) data, Fitch Ratings says in a new report. The country’s economic and social instability may have driven […]
Ranil Rally – stocks up another 5%
May 13, 2022 (LBO) – Sri Lanka’s main stock market indices continued their surge finishing the day up another 4-5%. This comes on the back of yesterdays 3-4% gains on speculation that Ranil Wickremesinghe would be sworn in as Prime Minister for the 6th time. As Wickremesinghe assumed duties at the Prime Ministers Office today, […]
Ranil sparks stock market Rebound
May 12, 2022 (LBO) – The main stock market indices in Sri Lanka surged on Thursday, the first day of trading following a market shut down due to curfews resulting from political violence throughout the country. The main indices finished up in-between 3-4% on light volume of Rs1.2bn (US$3mn). Due to the political violence and […]
Inflation is expected to peak at 29-pct in July; LKR to further depreciate
Inflation is expected to peak at 29% in July owing to potential price hikes in essential commodities like gas, electricity, and fuel prices, the First Capital Research said. CCPI further increased to 18.7% in March, exceeding the CBSL’s and FC Research’s desired range of 4%-6% and 5%-7% respectively. According to First Capital Research, the exchange […]
Colombo Stock Brokers Association defends the decision by SEC to temporarily close down CSE
Colombo Stock Brokers Association (CSBA) defends the decision by the Securities and Exchange Commission of Sri Lanka (SEC) to temporarily close down the Colombo Stock Exchange (CSE) for 5 business days as a warranted measure, considering the prevailing economic crisis in the country as well as the disruptions faced by traders in conducting day to […]