Category: Markets
CB Governor says bank deposit and lending rates need to come down
Aug 08, 2018 (LBO) – Sri Lanka’s Central Bank Governor Indrajit Coomaraswamy expressed concern on the current deposit and lending rates of the banks. Speaking at a press briefing, Coomaraswamy said it is a matter of some concern because the deposit and lending rates are as rigid as they were in the past. “In fact […]
CSE finishes the week lower, turnover continues to be extremely poor
August 3, 2018 (LBO) – Major indices at the Colombo Stock Exchange finished the week lower on extremely low levels of total market turnover. For the week, the ASPI was down .16% while the S&P SL 20 was down 1.1%. Turnover continued at low levels witnessed last week, with average daily total market turnover of […]
”s ratings at B1; maintains negative outlook
July 26, 2018 (LBO) – Moody’s Investors Service has today affirmed the Government of Sri Lanka’s foreign currency issuer and senior unsecured ratings at B1 and maintained the negative outlook. Moody’s Investors Service said the decision to affirm the rating at B1 reflects Sri Lanka’s progress in implementing the planned reform program, which entails fiscal consolidation and […]
Opinion : Financial reporting and the impact on capital market development
By Nandika Buddhipala Introduction The origination of financial reporting can be closely connected to the requirement to collect and record data which evolved into a stage where the capacity of the human brain was not sufficient to accommodate and memorize the evolving volume of data and transactions. Interestingly the existence of record keeping can be […]
Colombo stocks up for the week on sluggish turnover, foreign selling continues
July 13, 2018 (LBO) – Colombo stocks finished the week up, snapping the downtrend that persisted for the past several weeks. The All Share Price Index (ASPI) finished the week up .5% and the S&P SL 20 was up .33%. Turnover dipped to low levels near US$1mn a day mid week, before rebounding moderately later […]
First Capital downgrades exchange rate target to 161 rupees for end 2018
July 11, 2018 (LBO) – First Capital Research said they downgraded their exchange rate target from 159 rupees to 161 rupees per dollar for end 2018 since a stronger dollar is more likely in the coming months. With four fed rate hikes on the cards over next 12 months, First Capital Research said they are […]
Sri Lanka gross official reserves improve to USD 9.2 bn by end June
July 06, 2018 (LBO) – Sri Lanka’s gross official reserve position is estimated to have improved to around 9.2 billion US dollars by end June 2018, compared to 8.0 billion dollars at end 2017. The reserves include international sovereign bond issued in April, the receipt of the fifth tranche from the IMF, receipts from the […]
Central Bank maintains policy interest rates at current levels
July 06, 2018 (LBO) – Monetary Board of the Central Bank, at its meeting held on 05 July 2018, has decided to maintain policy interest rates at their current levels.Accordingly, the Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR) remain at 7.25 per cent and 8.50 per cent, respectively. The Board’s decision is […]
Perpetual Treasuries suspension of business extended by 6 months
July 05, 2018 (LBO) – Monetary Board of the Central Bank acting in terms of the regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to extend the suspension of Perpetual Treasuries Limited (PTL). Accordingly, PTL will be further suspended from carrying on the business and activities of […]
Stocks continue slide to new 2018 lows as turnover dries up
July 4, 2018 (LBO) – The Colombo Stock Exchange continued its 2018 slide as stocks finished at new lows for the year. Both major stock market indices continued their drip lower finishing down just over .6%. Turnover was very weak at Rs261mn (US$1.65mn), with trades of market bellwether JKH accounting for almost 40% of total […]
Colombo stocks sink to new lows with S&P SL 20 index down 10% for 2018
July 3, 2018 (LBO) – Colombo stocks continued their decline hitting new lows for 2018. Key indices were both lower with the All Share Price Index (ASPI) down .77% and the S&P SL 20 down 1.34% on the session. Turnover was a weak Rs566mn (US$3.6mn). The trend of foreign selling continued as net foreign sales […]
Selling accelerates as Colombo stocks hit new lows for 2018
July 2, 2018 (LBO) – The markets started the month of July on the same course they have been for the year. The days selloff was slow and steady through the session with both major indices dropping over 1%. The all share price index (ASPI) finished down 1.07%, and the S&P SL 20 was off […]