The November inflation is high and average is climbing quickly. The interest rates are not market driven. However the Colombo bourse is the attraction as the fundamentals are somewhat accurate in the counters that have backed up the share prices with profit figures and the speculation of this December quarter is even better than the September quarter is driving the prices up.
We can expect a very active 10 days this festive December with most share darlings have broken out in EXPO LOLC Hayleys MGT BIL, RCL VONE showing good activity and trending up… SUN TILE ACL LWL TYRE looks consolidating. a new kid on the block has been attracted to a HNI and Soft Logic group is coming up on the investor radar with SCAP SHL making strides yesterday.
The significance of yesterday’s market gain of 200 points was for the first time witnessed with traditional leaders JKH and Commercial Bank , retreating significantly . EXPO is now in the Frontier market MSCI index with JKH and notably displaced Commercial Bank that has been removed from this index, Hence EXPO is on the international fund manager radar with the MSCI and yesterday RS 274 million of EXPO buying was foreign .
