As an investor and follower of CSE, my argument is.
Every investor in Colombo Stock exchange is expecting the Singer Finance IPO. In the mean time Singer Srilanka PLC reaches low transaction price of Rs 170.00 from 189.00[As previous closing]
Today’s Rs.170 was lowest price during this year transactions.
Is there any reason for it?
This price reductions can be a market correction, the CSE was reaches a highest selling positions during the last 2 months. So the investors are expecting there will be a Market correction in near future.
Therefore most of them are considering this as a market correction, but it’s not. If it’s a market correction the whole the market should be affect.
Therefore accepting the market adjustment is depending on their personal.
Manipulating the market
There are some reasons for the argument of Manipulations,
- To get weaken position to the Singer Finance IPO
By manipulating the Singer Srilanka shares, will lead the investors to not to attract to singer Finance IPO which opens tomorrow.
- The number of shares traded today,
The number of shares traded today is about the 1000; therefore making decision with the few shares may be lead wrong decision.
- Today price is the lowest price in the year of 2010.
The price indicates as Rs.170; is a lowest price in the year. The share trading today may lead use to misunderstand the investor and unattractive to the Singer Finance IPO.
As per My Points of View this can be a manipulation cause,
This trend can be continued to tomorrow as well to affect Singer Finance IPO of 15th December [tomorrow].