| Sri Lanka News Updates with Discussions |
Sri Lankan News & Discussions |
|
Report this post by 'Berty' for abuse
When you submit an abuse report, the modetrator will take an immediate look at this post and his/her previous posts to
see if there are any posting guideline violations are done by 'Berty'.
|
|
[Stock Market crashes to one year low
Despite Government s much trumpeted military victories and sound economic growth, investors don t seem to have much cheer, as the Colombo Stock Market plunged to its lowest levels in a year. The main All Share Price Index fell over 1% or, over 28 points, to finish at 2,372 points, a one-year low. It was also the 10th consecutive fall that took to its lowest close since July 19, 2007. Brokers said that, the plunge was over concerns of the impact of high interest rates and inflation on corporate earnings, added to worries of the long-running civil war. The Market has fallen by nearly 12% from an 11-month high on April 23. Market capitalization yesterday was Rs. 767 billion, down by 6.5% from staart of this year. Investor sentiment is very weak, mainly on earning fears, Reuters quoted Assistant Research Manager, HNB Stockbrokers, Geeth Balasuriya, as saying. High inflation and high interest rates are pressurising profit margins of the companies due to high costs, while some companies are discouraged to go for new investments due to high borrowing cost. ] |
(C) 2000-2008 www.lankanewspapers.com - Sri Lankan News & Discussions - Contact Us - RSS Feed - News Archives - src - FAQ |
Search All News and Discussions