Switch focus to high dividend yielding counters

Monday, 9 September 2013 00:13 - - {{hitsCtrl.values.hits}}

Softlogic Stockbrokers says with the downtrend in the index investor sentiment has drastically deteriorated resulting lower buying pressure. “With interest rates expected to rise, we believe investors should adopt a cautious approach and switch to high dividend yielding counters. Some of the banks and Textured Jersey of the manufacturing sector are some favourable picks for the investors,” Softlogic said. It said last week market correction continued with the bourse dipping over 161 points primarily led by heavy cap counters namely John Keells Holdings, Ceylon Tobacco and Sri Lanka Telecom and heavy selling pressure among selected speculative counters namely Touchwood, CIFL and PC House.

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