Sri Lanka Stock Picks

Sri Lanka stock picks site has been developed to give first hand information with regard to share trading opportunities available for investors who do not like go through lengthy research reports, calculations,etc but to have a clear idea about stocks that have future up side potential.Our service is just not for day traders but for the investors who wish to see their money growing in the long run.Our main objective is to provide information relating to trading under one roof.

Thursday, December 31, 2009

SRI LANKA SHARES UP BY 128% FOR 2009

Sri Lankan shares hit a fresh record high on Wednesday led by blue chip buying, on expectations of better performance due to post-war economic optimism amid low interest rates ahead of a January election.

Analysts said local investors were driving up the market after they have seen foreigners buying shares when the market slows down.
"Foreign buying confidence is still encouraging the market," Danushka Samarasinghe, head of research at Asia Securities, said.

Analysts also said investors were positioning ahead of Jan. 26 presidential polls, betting that regardless of the outcome the stock market will continue its climb, fueled by post-war economic optimism.
Analysts said investors are also buying shares heavily due to low interest rates prevailing in the market.
Sri Lanka's presidential poll is scheduled for Jan. 26 and will be followed by parliamentary election due by April.

Analysts and traders said the broader market is still waiting for direction from the economic policies of the main presidential candidates Mahinda Rajapaksa and Sarath Fonseka.