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stocks hunter
stocks hunter
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Posts : 1280
Join date : 2014-03-16

Sri Lanka stocks at more than 43-month high ahead of rate announcement Empty Sri Lanka stocks at more than 43-month high ahead of rate announcement

Mon Nov 17, 2014 9:19 pm
Message reputation : 100% (1 vote)
Nov 17 (Reuters) - Sri Lankan stocks rose for a fifth straight session on Monday to 43-month highs, led by beverage and telecom shares a day ahead of the central bank's monetary policy announcement, when it is expected to hold rates.

Continued foreign buying, low interest rates and hopes for better earnings from companies helped boost investor sentiment.

Sri Lanka's main stock index rose 0.31 percent, or 22.91 points, to 7,524.00, its highest closing level since April 18, 2011.

"Today, there was lot more retail interest. A lot of funds are getting into the equity market. That is why retail interest is increasing," said Dimantha Mathew, manager, research at First Capital Equities (pvt) Ltd.

Monday's turnover was 2.4 billion rupees ($18.3 million), exchange data showed, well above this year's daily average of 1.43 billion rupees.

The bourse has witnessed foreign inflows of 18.06 billion rupees so far this year through Friday, exchange data showed. Foreign trading figures were not available for Monday due to some technical fault, an exchange official told Reuters.

Nestle Lanka Plc rose 0.13 percent, leading the overall gains, while Dialog Axiata Plc added 4.80 percent.

Access Engineering Ltd rose 5.76 percent. Traders said hopes for a boost in the construction businesses helped the company's shares.

Sri Lanka's central bank is expected to hold its key monetary policy rates steady at their record low level on Tuesday for a tenth straight month as policymakers aim to sustain an economic rebound, a Reuters poll showed. ($1 = 130.9500 Sri Lankan rupee) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Prateek Chatterjee)

http://www.reuters.com
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Antonym
Posts : 62
Join date : 2014-03-01
Age : 61

Sri Lanka stocks at more than 43-month high ahead of rate announcement Empty CBSL seen keeping key rates at record lows

Mon Nov 17, 2014 11:46 pm
Message reputation : 100% (1 vote)
stocks hunter wrote:Nov 17 (Reuters) - Sri Lankan stocks rose for a fifth straight session on Monday to 43-month highs, led by beverage and telecom shares a day ahead of the central bank's monetary policy announcement, when it is expected to hold rates.

Continued foreign buying, low interest rates and hopes for better earnings from companies helped boost investor sentiment.

Sri Lanka's main stock index rose 0.31 percent, or 22.91 points, to 7,524.00, its highest closing level since April 18, 2011.

"Today, there was lot more retail interest. A lot of funds are getting into the equity market. That is why retail interest is increasing," said Dimantha Mathew, manager, research at First Capital Equities (pvt) Ltd...

...Sri Lanka's central bank is expected to hold its key monetary policy rates steady at their record low level on Tuesday for a tenth straight month as policymakers aim to sustain an economic rebound, a Reuters poll showed.

http://www.reuters.com
Out of 15 economic analysts polled, 14 expect the CBSL to hold interest rates steady tomorrow. Only one of the analysts said that he expects a 50 bps reduction... A reduction of that magnitude is not really expected, but who knows what could happen if Cabraal decides to reduce rates? Yabba-Dabba Dooo!
Policy decision due Tuesday, Nov. 18 at 7.30 am
Central bank last cut reverse repo in January, by 50 bps
Central bank moves in September have reduced banks' lending rates
Key policy rates are already at record lows

COLOMBO, Nov 17 (Reuters) - Sri Lanka's central bank is expected to hold its key monetary policy rates steady at their record low level on Tuesday for a 10th straight month as policymakers aim to sustain an economic rebound, a Reuters poll showed.

The repurchase and reverse repurchase rates are at 6.50 percent and 8.00 percent respectively - record lows.

http://in.reuters.com/article/2014/11/17/sri-lanka-economy-rates-idINL3N0T72S820141117
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