Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post

Latest topics

» i am new comers forum
by faz1 Yesterday at 9:38 pm

» Daily Foreign Transactions
by ruwan326 Yesterday at 8:54 pm

» ALHP WILL MOVE UP SOON
by ruwan326 Yesterday at 8:40 pm

» expo.. @4.00
by ruwan326 Yesterday at 8:34 pm

» How to pick winning stocks by analysis not through predictions and gossip news-1
by Ryan Hudson Yesterday at 1:56 pm

» Wach out for RIL
by ruwan326 Yesterday at 10:41 am

» MARKET CRASH - GUARANTEED
by anjelo Yesterday at 10:31 am

» FLCH , BIL
by anushka25 Mon Jul 16, 2018 10:18 pm

» LDEV GEARING UP
by ruwan326 Mon Jul 16, 2018 8:06 pm

» Monday blood bath
by ruwan326 Mon Jul 16, 2018 12:41 pm

» Sri Lankan shares extend gains to 2-week closing high
by ruwan326 Mon Jul 16, 2018 11:40 am

» Free earn 120$...or above
by Uaecoindubai Mon Jul 16, 2018 12:01 am

» Good bye your job and earn 20-30% per month
by Uaecoindubai Sun Jul 15, 2018 10:05 pm

» John Keells Miserable Future until 2020
by DS Wijesinghe Sun Jul 15, 2018 5:32 pm

» Summary of Key Announcements during the week end 13July 2018
by ruwan326 Sun Jul 15, 2018 7:59 am

» BIL & FLCH
by ruwan326 Fri Jul 13, 2018 10:26 am

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market News » Sri Lankan shares post 4-1/2 month closing low on budget worries

Sri Lankan shares post 4-1/2 month closing low on budget worries

Go down  Message [Page 1 of 1]

peacockman


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Reuters: Sri Lankan shares closed at their lowest in four-and-a-half months on Thursday on worries earnings of financial firms would fall after the new budget proposals announced last week were implemented.


The main stock index ended 0.67 percent, or 46.62 points, weaker at 6,963.37, its lowest close since July 9, and below its psychological barrier of 7,000.

"Selling pressure continues after the budget, especially on the banking shares, and it will gradually settle," said a stockbroker asking not to be named.

"Heading for the December holiday season, we are not expecting big activities."

Rating agency Fitch said on Tuesday that Sri Lanka's 2016 budget provides no clear plan for fiscal consolidation over the medium term and the absence of such a framework will put more pressure on the fiscal deficit.

"Fitch believes there are risks to government being able to meet its fiscal deficit target, especially considering the trend in revenues in recent years," the rating agency said.

The government on Friday announced a raft of steps, including the removal of a 0.3 percent share transaction levy, to stimulate trading in the share market and increase liquidity.

Shares of conglomerate John Keells Holdings Plc fell 1.33 percent, while Ceylon Cold Stores Plc dropped 3.34 percent.

Turnover was 620.2 million rupees ($4.34 million), lower than this year's daily average of 1.1 billion rupees.

Foreign investors, who have been net sellers of 3.78 billion rupees worth of equities so far this year, bought shares worth a net 108.6 million rupees on Thursday.

Fitch said on Monday that it maintained a negative outlook on the telecom sector based on uncertainty over proposals to increase taxes, which are likely to lower profitability and increase leverage, if implemented.

Sri Lanka's stock and foreign exchange markets were closed on Wednesday for a Buddhist religious holiday. 


link : - http://slbiznews.blogspot.com/2015/11/sri-lankan-shares-post-4-12-month.html

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum