Category: Markets
IMF working paper suggests new Keynesian models for monetary policy decisions
June 26, 2018 (LBO) – An International Monetary Fund (IMF) working paper released yesterday suggested the Central Bank of Sri Lanka use new Keynesian models for monetary policy analysis and forecasting purposes. IMF working paper said small new Keynesian models, which are increasingly used in central banks for monetary policy analysis and forecasting purposes are […]
Colombo Stock Exchange (CSE) turnover starts the week at embarrassing levels
June 25, 2018 (LBO) – Colombo stocks started the week slowly with both major Sri Lanka equity indices (ASPI and S&P SL 20) finishing slightly in the red. Turnover was Rs176mn (US$1.1mn), one of the lowest figures for 2018. Experts say that these levels of turnover depict a market that appears nonfunctional, particularly to foreign […]
Tokyo Cement (TKYO) reports a loss as Sri Lankan construction industry slows in Q1
June 24, 2018 (LBO) – The Central Bank of Sri Lanka recently released its first quarter GDP report. Growth was a tepid 3.2% for the quarter ended March 31, 2018. Digging deeper, one saw a rebound in agriculture with a growth of 4.4%, and services meandering along with the same 4.4% year over year growth […]
Colombo stocks in a slumber to finish the week
June 22, 2018 (LBO) – The Colombo Stock Exchange finished the week with not a bang, but a whimper. Stocks finished flat with both major indices (ASPI and S&P SL 20) closing almost unchanged. Turnover was very light at Rs277mn (US$1.7mn). The recent trend of foreign selling continued with today’s net foreign sales of Rs72mn […]
Anilana (ALHP) reports another loss as east coast tourism struggles
June 21, 2018 (LBO) – Colombo Stock Exchange listed Anilana released financial results for the quarter and the year ended March 31, 2018.The loss for the quarter was Rs104mn, and the year was Rs330mn.These results are similar to the prior year where the company lost Rs276mn. Anilana was one of a few companies that made […]
Colombo stocks snap losing streak, turnover weak
June 21, 2018 (LBO) – The stock market in Sri Lanka finally snapped a long losing streak finishing up slightly on the day. The major indices (ASPI and the S&P SL 20) both finished marginally in the green after spending most of the day in the red. Turnover was weak again at Rs416mn (US$2.6mn). Net […]
Opinion: Stock Brokerages in Sri Lanka should publish audited accounts on the CSE website
June 21, 2018 (LBO) – Choosing a stock broker in Sri Lanka can be a confusing process.There are 15 member firms and 12 trading member firms listed on the Colombo Stock Exchange (CSE) website. There is nothing else on the website that can help a potential client evaluate which is the best firm to transact […]
Hat Trick as Colombo stocks hit 2018 lows for 3rd straight session
June 20, 2018 (LBO) – Colombo stocks continued their decline hitting the 3rd consecutive day of new lows for 2018. The ASPI was down was down .76%, and the S&P SL 20 was down 1.23% on the day. The indices are down 2.4% and 6.6% on the year respectively. Turnover was an anaemic Rs341mn (US$2.1mn) […]
NDB Bank to raise Rs6.2bn in discounted rights issue
June 19, 2018 (LBO) – Colombo Stock Exchange (CSE) listed National Development Bank (NDB) announced a one for three rights issue to raise approximately Rs6.2bn. The purpose of the rights issue as stated in the CSE announcement is to: “further strengthen the equity base of the bank and thereby improve capital adequacy, and to part […]
Another 2018 record low for Sri Lanka stocks
June 19, 2018 (LBO) – The Colombo Stock Exchange continued its slow bleed lower today hitting record lows for the second consecutive day in 2018. The All Share Price Index (ASPI), the market cap weighted index of all listed stocks, closed down .71% to 6265. The S&P Sri Lanka 20 index dropped 1.15% to 3473. […]
Foreign investors exit Sri Lanka government bonds in 2018
June 19, 2018 (LBO) – Foreign investors have been dumping Sri Lanka government bonds in 2018, after being big net buyers in 2017.Year to date, foreign investors have been net sellers of Rs22.5bn (US$140mn) of Sri Lanka government bonds. This is a reversal from 2017, where foreign investors were net buyers of Rs64.2bn (US0mn) worth […]
Sri Lanka stocks close at record lows for 2018
June 18, 2018 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) continued its slow bleed lower with key indices closing at the lows for 2018. The All Share Price Index (ASPI), the market cap weighted measure of all listed stocks, closed down .33% to 6310. This broad price index now sits down close to 1% […]