Category: Markets
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% […]
Sri Lanka rupee hits new record low of 161.00; Stocks down
Jun 18, 2018 (LBO) – Sri Lanka’s stock and money markets got off to a slow start Monday with rupee dropping to a new low of 161.00 against the US dollar while stocks also showed a dip.The rupee opened at around 159.40/90 but by mid day was quoted around 161.00/05 to the US dollars in the […]
EPF proven a winner with its large divestiture of John Keells (JKH) shares to Malaysians in 2012
June 16, 2018 (LBO) – The EPF as of late has not been proven to be the most savvy investor, but with one of its biggest moves in the stock market 6 years ago, the provident fund clearly made the right choice. Early in 2012, Sri Lanka’s largest provident fund sold an 8.4% stake in […]
MTD Walkers (KAPI) reports a massive loss of Rs2.8bn
June 15, 2018 (LBO) – The woes of Colombo Stock Exchange listed stocks continue with the financial results of construction company MTD Walkers (KAPI). For the year ended March 31st 2018, KAPI has reported a staggering loss of Rs2.87bn, Analysts say this is one of the largest losses of any listed company in recent memory. […]
‘s Access Engineering (AEL)
June 13, 2018 (LBO) – Due to the lacklustre performance of the Colombo Stock Exchange, foreign investors likely have made significant losses investing in Sri Lankan stocks over the past few years. Some of the largest losses they have experienced in percentage terms are likely to be investments made in shares of Sri Lankan listed […]
‘t tolerate speculation further; if necessary will use all instruments to discipline
Jun 13, 2018 (LBO) – Sri Lanka’s Central Bank Governor warned forex market players saying that if necessary he is ready to use all the instruments they have to discipline the market and the Central Bank is not going to impose an undue burden on the people.Speaking at a recent event, Governor Indrajit Coomaraswamy said […]
New MLA amendments to restrict financing fiscal deficit by Central Bank
June 05, 2018 (LBO) – Sri Lanka’s Central Bank said there will be new legislative amendments to Monetary Law Act (MLA) to restrict financing the fiscal deficit of the government by the Central Bank. Currently, the Central bank has been compelled to purchase Treasury bills in the primary market at times without regard to monetary […]
‘s 4th review; approves USD 252 mn disbursement
June 02, 2018 (LBO) – Executive Board of the IMF has completed the fourth review of Sri Lanka’s economic performance under the program supported by a three-year extended arrangement under the Extended Fund Facility (EFF) arrangement. Completion of this review enables the disbursement of the equivalent of SDR 177.774 million (about US$ 252 million), bringing […]