Category: Markets
Sri Lanka Monetary Board holds key rates unchanged
Jan 25, 2016 (LBO) – Sri Lanka’s Monetary Board held interest rates unchanged on Monday with inflation somewhat subdued in December, and the impact of last months’s SRR increase still being transmitted through the economy, a statement said. The Monetary Board noted that “the policy adjustments made on the monetary and external fronts are still […]
Sri Lanka stocks closed down 0.4-pct; Turnover at near 4 week low
Jan 25, 2016 (LBO) – Sri Lankan stocks closed down 0.43 percent with the negative sentiment of the investors continuing after two days of gains with losses in index heavy and banking stocks, brokers said. The Colombo benchmark All Share Price Index closed lower 27.41 points at 6,354.83 down 0.43 percent. S&P SL20 closed 11.44 […]
Sri Lanka stocks closed up 1.6-pct
Jan 21, 2016 (LBO) – Sri Lankan stocks closed up 1.59 percent after four days of losses with gains across the board as regional markets were also all in the green, brokers said. The Colombo benchmark All Share Price Index closed higher 99.38 points at 6,360.56 up 1.59 percent. S&P SL20 closed 44.61 points up […]
Sri Lanka stocks closed down 0.3-pct
Jan 20, 2016 (LBO) – Sri Lankan stocks closed down 0.35 percent for a fourth consecutive session with losses in index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed lower 22.06 points at 6,261.18 down 0.35 percent. S&P SL20 closed 9.91 points down at 3,251.39 down 0.30 percent. Turnover was at […]
Interview: Attractive returns on Sri Lanka bonds due to volatility
Jan 20, 2016 (LBO) – Out of emerging markets, Sri Lanka bonds offer well above average returns through trading opportunities due to strong volatility, a market participant said. Data shows rupee treasury bonds posting more than 25 turning points last year, a clear sign of volatility in the secondary market. Swings of between 25 to […]
Tony Weerasinghe launches online retail brokerage Ustocktrade
Jan 18, 2015 (LBO) – Tony Weerasinghe a founder of software company MilleniumIT has launched a low-cost U.S. online retail brokerage, Ustocktrade. Ustocktrade, which generates revenue from a one-dollar-a-month membership fee and a one-dollar-per-trade fee, aims to “bring Wall Street to Main Street” Weerasinghe said. Part of the firm’s goal is to encourage non-traditional investors, […]
Sri Lanka stocks down 1.9-pct; 18 month low
Jan 18, 2016 (LBO) – Sri Lankan stocks closed down 1.89 percent following the negativity in regional markets and local economic concerns with losses in financial sector stocks, brokers said. The Colombo benchmark All Share Price Index closed lower 121.59 points at 6,324.61 down 1.89 percent. S&P SL20 closed 60.08 points down at 3,280.05 down […]
CCP by first quarter 2017: CSE Chairman
Jan 14, 2016 (LBO) – Sri Lanka’s Colombo Stock Exchange aims to establish the Central Counter Party (CCP) system, a new risk management system, by early 2017, a senior official said. “We have to properly draft the laws. This is a difficult task but we are doing that with the help of some consultants,” Vajira […]
Sri Lanka stocks up after 7 days of losses; bargain hunting
Jan 12, 2016 (LBO) – Sri Lankan stocks were up 0.31 percent after seven consecutive days of losses with gains in John Keels Holdings and Telecom stocks, brokers said. The Colombo benchmark All Share Price Index closed lower 20.02 points at 6,554.37 down 0.31 percent. S&P SL20 closed 12.53 points down at 3,405.57 down 0.37 […]
Sri Lanka stocks close with highest intra-day loss in 5 months
Jan 12, 2016 (LBO) – Sri Lankan stocks closed down at 1.74 percent for a seventh consecutive day with losses across the board as regional markets also dropped, brokers said. The Colombo benchmark All Share Price Index shed 115.97 points to end at 6,534.35 down 1.74 percent. S&P SL20 closed 71.00 points down at 3,392.04 […]
Medium term growth prospects for Sri Lanka market: CT CLSA
Jan 12, 2016 (LBO) – The Sri Lankan economy is forecast to grow 6 percent 2016 with fiscal proposals to stimulate manufacturing, export and construction offering growth prospects in the medium term, CT CLSA Securities said in its Sri Lanka Outlook 2016 report. “The 2016E fiscal proposals to stimulate manufacturing, export and construction sectors are […]
An investor to park USD1 bln in dollar deposits, says Finance Minister
Jan 12, 2016 (LBO) – An investor has promised to park 1 billion dollars in dollar deposits in Sri Lanka to help the island nation defend its currency, according to a media report quoting the finance minister. The investor was Belgian and was working with a Sri Lankan partner, Finance Minister Ravi Karunanayake told Reuters. […]