EPF on a buying spree

Wednesday, 15 February 2012 00:43 - - {{hitsCtrl.values.hits}}

EPF, which returned to the market on Monday, was most active yesterday as well.

It picked up available quantities of JKH, Bukit Darah, Carsons, Dialog, CT Holdings, Cargills, Asian Hotels, CIC Holdings and LOLC among others, whilst ETF too remained active collecting select stocks, which it has done in recent weeks.

Some analysts said that if EPF’s intention was to give confidence to the market by buying blue chips on long-term value, then a more concerted buying role by active State funds would have been the best course.

Some viewed EPF’s return from Monday onwards as being too late to whip up positive sentiments.

It was not only EPF and ETF but several private sector institutional investors as well who were also active on the buying side, collecting good stocks. Analysts viewed this as a welcome sign as inertia on the part of local institutional investors despite sound macro fundamentals had been cited as a cause for the worsening performance of the Colombo Bourse.