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, October 21, 2010

Banking sector - Engine of the Sri Lanka's post war economic growth

SRI LANKA STOCK PICKS Exclusive: (S.L.S.Picks) - Colombo Stock Exchange reported its history best index level on 01/10/2010 by reporting ASI 7156.60 on that date. However we witnessed a downward trend in the market after ASI reached this point which we believe is purely due to the profit taking by the investors & due to the long awaited market correction,since our market witnessed an overbought position during that period as per Reuters reported.

Colombo Stock Market lost almost 6.8% or 492 points approximately as at to day after reporting ASI 7156.60 on 01/10/2010. It was reported that the Colombo Stock Exchange is now trading between the neutral limits of 30 and 70,(The CSE's 14-day relative strength index is at 57.7,Thomson Reuters data showed) after shedding 6.8% during the past couple of weeks.

We strongly believe that the banking sector shares will out perform the market in medium to long term since Banking sector being the engine of the post war economic growth in Sri Lanka.There for we have decided to publish a chart of the Banking sector shares which reported highest percentage losses during the past couple weeks as at date to select the BEST BANKING STOCK before the next uptrend commenced.Our effort is to give you all a basic idea of each stock & the selection of the best Banking stock is purely to be decided by you with all other factors.

However please note that there is a risk involved in share trading. We do not take responsibility for any lose or damage arising out of stated information in this post. You have to take your own decisions. (Do your own research, do not follow others, Stick to fundamentals, Buy shares when other are selling & sell when others are buying)

Company	Highest Traded Price	Last Traded Price (20/10/10)	% Loss
PABC	76.50	56.80	25.75
NTB	114.70	87.00	24.24
DFCC	550.00	450.00	18.18
SEYB	125.00	104.00	16.80
SEYB(X)	64.90	54.10	16.6
HNB(X)	260.00	221.20	14.90
HNB	445.00	400.00	10.11
NDB	415.00	375.00	9.6

* We have not included SAMP & COMB shares to this table due to the reason that these two companies amended their share capital very recently.

Comments -

In general, the stocks with highest percentage losses for the period have the chance of providing a high return at the next uptrend commenced.
The stocks with lowest percentage losses reflects a strong buying support even thought the market is at a negative trend.