State institutions ups trading activity
View(s):At least two government institutions have increased their trading activity in the Colombo Stock Exchange.
They are trading – mostly selling certain blue chips, according to stockbrokers. “This may be after realising the need to lock in the maximum value at this point, before the stock prices increase further,” a stockbroker told the Business Times.
Another stockbroker confirmed this, noting that these are trading portfolios of these state institutions. “They are buying and selling,” he said.
State Minister of Money and Capital Market and State Enterprise Reform, Ajit Nivard Cabraal recently said that state funds are also funds. “They will have to take their own call in investing. If they want to invest in the stock market they can, if they don’t, they can also not invest. So it is entirely a decision that will be entrusted to the management of the funds.”