Net foreign inflow high;
Sri Lankans buy more shares in 2009
Harshini PERERA
Foreigners bought 38 percent of the total shares of the Colombo Stock
Exchange (CSE) at the end of year 2009. Foreign companies accounted for
25.1 percent of the total purchases and local companies have accounted
for 33.3 percent whereas Sri Lankans accounted for 38.8 percent and
foreigners 2.8 percent, CSE, Manager-Business Development, Tushara
Jayaratne told Daily News Business.
“The All Share Price Index (ASPI) went up by 72 percent after the
war. At present, there are 5,257 transactions per day. There were around
2,600 transactions during the first five months of 2009,” he said.
He said that the net foreign inflow from January to November 2009 was
recorded in the beverage, food and tobacco, healthcare sector,
investment trust sector, oil palm sector and stores supplies.
The interest rates offered by banks have decreased drastically and
instead investing in the stock exchange can be introduced as a better
solution for depositors. Hence Asha Phillip Securities Ltd. has
conducted awareness campaigns in various districts of the country, Asha
Phillip Securities Ltd., Director/CEO, Dimuthu Abeyesekera told Daily
News Business.
He said that they have already visited 10 areas all over Sri Lanka.
Asha Phillip Securities Ltd., will soon expand into the North and the
East as well. Online trading facilities and qualified investment advice
will be given to investors. With the end of the war in Sri Lanka, the
ASPI has increased.
According to statistics of Asha Phillip Securities Ltd., the ASPI
value was 1509.79 in December 2008 and it had reached 3290.46 up to now.
With the end of the war, the ASPI which was at 2520.14 reached the
highest ever record of 3280.8 in CSE history.
Foreign investments were high in August and October amounting to a
net inflow of Rs. 2,121,392,834 and Rs. 1,338,690,550. The Milanka Price
Index also reached 3770.71 from 2721.64 after the war, according to
records. |