Mkt was down yesterday with the further losses on the speculative counters related to mostly the LOLC group subsidiaries that really overshot and created an overstated ASPI in November. It was a rollercoaster ride last month for the CLC LOFC and NIFL with even Uber riders tick tocking the role of stock Investment advisers and promoting these speculative counters and sharing their success in the CSE on Social Media .
So we are currently witnessing the slaughter of the pigs …..while the bulls are consolidating in The favorite counters related to Logistics Tile Cable and Export counters.
The blip on some of the import driven counters are quite likely to show exchange losses with the current mismatch in the official and unofficial currency markets where the reality of black market $ is far higher than the official CBSL rate .
LIOC and TKYO may show some gains with the excitement of headline news, but very likely to be shortlived once we get to see the official numbers of the December quarter in February 2022.
Judging by the mkt performance most Institutional Fund Managers seem to be underperforming the CSE ASPI hence a little Christmas dressing up is quite likely in the next couple of weeks leading up to Year end .
