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The Colombo Stock Exchange has recorded the highest annual growth in seven years, in 2001 making the CSE one of the best performing equity markets.

The All Share Price Index (ASPI) gained by 38.7 percent and the Milanka Price Index (MPI) gained by 47.6 while the levels of trading volumes increased significantly particularly during the last quarter of the year.

"The increased investor focus during the latter part of the year had a positive effect on the Colombo Stock Market, CSE Senior Manager (Marketing and PR)Rajiv Bandaranayake told the Daily News.

"The ASPI opening the year at 447.6 points, closed at 621.0 points on 31st December 2001, which is an increase of 38.7 percent. The MPI opened the year at 698.5 points closed at 1031.0 points at close of trading on December 31st 2001 gaining 47.6 percent," Mr. Bandaranayake said.

He said during the first three quarters of 2001 the ASPI reported a negative growth of 44.0 points (9.8 percent) while the MPI moved down by 91.0 points (13 percent).

"However the fourth quarter of the year witnessed a significant increase in market activities with the ASPI moving up by 217.4 points (53.8 percent) and the MPI reporting a growth of 423.5 points (69.7 percent) thus becoming one of the best performing stock markets in the world. The ASPI recorded its highest point in 42 months on December 10 (678.2 points) and the MPI which was introduced in 1999 recorded its highest ever point, 1164 points on the same day. The ASPI recorded its highest ever point (107.4 points) and 20.6 percent change for a day on 7th December," Mr. Bandaranayake said.

He said the annual turnover level increased by 27 percent from 11 billion in 2000 to 14 billion in 2001.

The first nine months of 2001 had an average daily turnover of 29.2 million as against an average daily turnover of Rs. 148.3 million for the last quarter of the year.

The month of December saw increased levels of activity with a record daily turnover average of Rs. 258.3 million, which is the highest, achieved for any given month since February 1994. On 10th December the CSE recorded its highest ever daily turnover of Rs. 866.9 million," Mr. Bandaranayake said.

Meanwhile, the CSE recorded a turnover of Rs. 120.4 million yesterday, with major contributions coming from NDB, JKH and Seylan Bank.

Both indices recorded gains: All Share Price Index closed at 621, up from 618 the previous day while Milanka Price Index closed at 1031, up from 1028.9. Price Advances led declines by a margin of 49 to 22.

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Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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