Sri Lanka stocks close up 1.5-pct; Continued foreign in-flow
Mar 10, 2016 (LBO) – Sri Lankan stocks closed up 1.46 percent after two consecutive days of losses with gains in index heavy stocks, brokers said.
The Colombo benchmark All Share Price Index (ASPI) closed at 5,862.35, up 85.88 points or 1.46 percent. The S&P SL20 closed 50.54 points at 3,143.46 up 1.63 percent.
Turnover was 2.5 billion rupees, up from 1.8 billion rupees Wednesday with 147 stocks closing positive against 22 negative.
The main index showed gains Sri Lanka Telecom with the stock closing at 35.00 rupees, up 1.80 rupees and John Keells Holdings closed at 152.90 rupees, up 2.10 rupees.
Hemas Holdings closed at 76.00 rupees, up 2.50 rupees.
In banking Hatton Nation Bank closed at 194.50 rupees, up 6.10 rupees and Commercial Bank closing at 117.20 rupees, up 0.10 rupees.
There was a continued net foreign inflow of 83 million rupees, down from Wednesday's 245 million rupees.
(corrected)
Thanks, we have corrected the typing error.
Does it even matter anymore, Colombo stock exchange became second worst performing stock market after Shanghai Composite. So far under the auspicious economic vision of Yahapalana usthads CSX lost 15% of its value.
And right now Sri Lanka has been downgraded by Fitch and S&P to the same level of Angola, Rwanda and Uganda. Sri Lankan Rupee lost close to 40% of its value.
Where are the great minds of Yahapalana Masters, Will there be anyone who can foresee the coming economic tsunami for Sri Lanka.
Dear friends run to the higher grounds…………………
I agree there were several mistakes and bad policies last year however I see that they are being corrected
The rating Down grade was due to maturing debt and low tax revenue. The govt initially tried money printin and bond issuing as well as one time taxes such as the super gains taxes that did a lot of damage
The government increased VAT and income tax although I believe we need to increase VAT to 20% and the Capital gains Taxwhich I did not recomend however investors seems to be positive that govt is working towards increasing tax revenue in a proper way.
The government should reform the public sector as well
I wonder what was the reason for the downgrade? It would be better to have some facts before talking
You are nothing but a brainless shill to the government, may I suggest that you change your name to SOS from SAS, because that’s what you government shills going to need pretty soon.
stop blaming previous government, you knew very well what you were getting into and governing is lot more difficult than giving lectures to sleeping crowds in pin drop silent halls in Colombo.
Ostracizing and antagonizing China for the favors of the West and India expecting big bonuses from IMF and the World Bank was the biggest mistake Ranil-Sirisena Clan made. Complete failure to identify the strategic importance of China-Sri Lanka relationship going to cost Sri Lanka many times over compare to what Mahinda had accomplished with Chinese government.
The rule of the game is you never expect winning hands but play with the hand you got to avoid complete loss of every bet you placed……
This is not the cold war or colonial eras. The SL Govt didn’t antoganize any country. It’s all in your head in fact SL-China relations are improving.
Sirisena visited China and now Ranil as well.
The current govt well knows what to do
It’s only improving in your head, Since the election of these goons Not a dime came in to Sri Lanka from Chinese…..Lying Sri Lankan way of politics does not hold any validity in forums like these….especially if you are arguing with people who knows what they are talking about…..
Sri Lanka China Relationship is all time low….Ranil will have to kiss the rear end of Chinese premier to get any money out of him…..Will see outcome since its not that far away.
First both you guys stop insulting and neither of you know what you guys are talking about.
Pls use someplace like Facebook to crash your fairy lands against each other.
Certain actions of the current gov put the Chinese in a confused state and the way they handled port city issues are unacceptable.
However thoe issues are taken care of.During Maliks visit to China the signing of the FTA was discussed alongside increasing party-party ties between UNP and CPC.
According to rumours from UNP members some big deals are going to signed during PMs China visit.
And China isn’t giving money they are mostly loans. We do receive aid like the Kidney hospital China is building at the presidents request.
I am not a hardliners supporter of any party or politicians .Only thing relevant is Sri Lanka s progress and development. You guys need to be more respectful. Neither of you people know anything so saying you guys know everything is a lie as well.