Category: Markets
Global equity interest in emerging markets expected to trickle down to CSE: Ceylon Asset Management
Jan 26, 2021 (LBO) – Local investors should exploit attractive valuations of the CSE before a Sri Lanka country rating revision and foreign investor confidence returns to the CSE, a new report says. “Invest in the Colombo Stock Exchange. Investors should include equity in portfolios during 2021, before PE ratio exceed 15X, ” the Ceylon […]
CSE issues new guideline for Stockbroker Firms to implement with immediate effect
In consultation with the Securities and Exchange Commission (SEC), the Colombo Stock Exchange (CSE) has issued a set of guidelines on best practices for Stockbroker Firms which are required to be adopted and implemented with immediate effect. The guideline has been approved by the SEC Commission on 13 January 2021 and were presented to the […]
SEC advises investors not to rely on unsolicited stock tips circulated through social media
The Securities and Exchange Commission of Sri Lanka (SEC) has observed that unsolicited messages purporting to be stock tips/ investment advice with respect to listed companies are being circulated through short message service (SMS), websites and social media platforms like WhatsApp, Facebook, Twitter, YouTube etc. The SEC has noted that these messages have been directed […]
ASPI crosses 8000 points mark; Hayleys announces subdivision of shares
The All Share Price Index (ASPI) of the Colombo Stock Exchange crossed the key psychological mark of 8,000 today gaining 246.80 points to end the day on 8,131.25 points. For the first time in its history, the All Share Price Index has ended a trading day above 8,000 points today. The S&P SL20 index which […]
Gross official reserves estimated at USD 5.7bn at end 2020
Sri Lanka’s gross official reserves were estimated at US dollars 5.7 billion at the end of 2020, with an import cover of 4.3 months, the Central Bank said continuing its accommodative monetary policy stance. The trade deficit is expected to have narrowed by over US dollars 2.0 billion in 2020 in comparison to the previous […]
Eran warns “Be careful of pump and dump in stock market”
Jan 18, 2021 (LBO) – Former State Minister of Finance Eran Wickramaratna said that when we hear the message of share market it was not only the message but we also need to look at the messenger as well. “We hear a lot of comments on basically about economy, lots of nice stories and fairy […]
SEC welcomes market performance; low bank interest rates attract local investors to CSE
The Securities and Exchange Commission of Sri Lanka (SEC) welcomes the record-breaking performance of the Colombo Stock Exchange (CSE). Bloomberg has identified the CSE as the second best performing equity market in the world. On 15th January 2021, the CSE saw 61,722 trades which is the highest number of trades ever in a single day […]
Asia Securities forecasts strong growth trajectory for equities in 2021
Following a year of volatility, leading stockbroking firm Asia Securities (Pvt) Ltd, notes that the road ahead for Sri Lanka’s capital markets is optimistic, with the ASPI expected to reach 7,400-7,600 in 2021. The Sri Lankan stock market marked a V-shaped recovery in 2020, seeing one of its strongest rallies to recover all losses suffered […]
Restrictions on outward remittances on capital transactions extended by 6 months
Jan 05, 2021 (LBO) – The Central Bank says that the restrictions imposed on outward remittances on capital transactions have been extended by a further six months to preserve the foreign currency reserve position of Sri Lanka. Accordingly following restrictions on outward remittances on capital transactions will be effective till 1 July 2021. Suspension of […]
CBSL to establish permanent single-digit interest rate structure in economy
Jan 04, 2021 (LBO) – Capitalising on the achievement of 12-years of single-digit inflation, the Central Bank intends to establish a permanent single digit interest rate structure in the economy, Governor W D Lakshman said. Introducing the monetary and financial sector policies for 2021, Governor said that they will remain focused on maintaining market interest […]
ASPI recorded a growth of 10.5-pct in 2020; market turnover highest since 2011
Jan 01, 2021 (LBO) – The benchmark All Share Price Index (ASPI) of Colombo Stock Exchange (CSE) closed 2020 recording a growth of 10.5%, the highest annual increase the index has seen since 2014. The ASPI ended 2020 on 6774.22 points. Meanwhile, the S&P SL20 index, which features the CSE’s 20 largest and most liquid […]
Fallout from Pandemic prompts an unprecedented rate cut: FCR
Jun 30, 2020 (LBO) – First Capital Research (FCR) believes that there is a higher likelihood of 90% that CBSL may provide a rate cut to ensure the continued supply of credit at a low cost of funding. The firm also believes that there is a probability of 40% for a 100bps rate cut to […]