Will Bull Run follow bond settlement?

Tuesday, 27 July 2021 03:02 - - {{hitsCtrl.values.hits}}

Nimal Perera thinks so, but Prof. Samarajiva points to better proof

With the settlement of $ 1 billion of International Sovereign Bonds (ISBs), investor expectations of a bull run are high, though economists stressed the test would be the Government facilitating key imports.

“With today’s repayment of $ 1 B ISB, hope country’s economic dynamics will change positively. Local banks are getting approximately $ 300 m back into the country. Net out flow will be around $ 700 million. Expect Bull Run to continue at CSE with healthy turnover,” tweeted high net worth investor Nimal Perera.

However, economist Prof. Rohan Samarajiva tweeted: “The proof will not be in the Bull Run in our puny stock exchange; it will be in legitimate importers being able to open LCs and in uninterrupted supplies.”

Stock market indices turn negative but turnover robust at Rs. 4.6 b