CSE opens Jaffna branch:
Jaffna becomes stocks savvy
Six brokering firms to help investors:
Charumini DE SILVA
Jaffna investors are keen on investing in banking, tourism,
manufacturing and plantation stocks, stock broking companies in Jaffna
said.
|
|
SEC Director-General Channa de Silva |
CSE Chairman Nihal Fonseka |
Speaking to Daily News Business SKM Lanka Holdings Operations
Director, Manjula Kumarasinghe said around 10 new Central Depository
System (CDS) accounts were opened on the first day of CSE Jaffna branch
operations.
CSE Jaffna branch commenced operations last Tuesday at Hospital
Street, Jaffna.
“Investors are keen on getting a higher return for their investments
compared to the returns that they get from the banks. The investor
profiles will improve gradually with the market becoming more active,”
he said.
They are keen on investing on banking, tourism manufacturing and
plantation stocks, he said.
Bartleet Mallory Stockbrokers Managing Director R. Muralidaran told
Daily News Business that over 30 new CDS accounts were opened and the
response received from the investors was commendable during the first
day of trading at the Jaffna CSE.
Securities and Exchange Commission (SEC) Director General, Channa de
Silva told Daily News that the commencement of CSE Jaffna branch was
important. He expects it will contribute to the CSE turnover in a
significant manner.
He said out of the seven stock brokering companies, six commenced
operations at the Jaffna branch. The opening of this branch was
successful. The stock brokering companies which started operations have
recruited qualified employees from Jaffna and it is an encouraging
indication about employment opportunities created through the opening of
the CSE Jaffna branch. The market is growing and SEC expects more stock
broking firms will also join, de Silva said.
The Director General said the response they received from Jaffna
people for the seminars that were conducted was good. More awareness
programs about the stock market will be conducted with the support of
the Jaffna University.
The commencement of these stock brokering companies is an encouraging
factor in interest and the growing potential it offers. “We hope new
businesses will emerge from Jaffna and will get listed too,” de Silva
said.
Colombo Stock Exchange (CSE) Chairman Nihal Fonseka said the
Government, SEC and CSE are very keen that the people of the Northern
province will get the chance to share the peace dividend, with much more
benefits expected to accrue in the future.
Six stockbroker firms Bartleet Mallory Stockbrokers, Asha Phillip
Securities, Lanka Securities, Capital TRUST Securities, SKM Lanka
Holdings and SMB Securities commenced operations at the CSE Jaffna
branch.
These firms offer clients access to online trading, real-time market
information, research reports and investment advice.
The CSE branch in Jaffna will also be instrumental in conducting
continuous educational programs in the region to equip investors in
Jaffna and the Northern Province with the necessary knowledge to
participate actively and prudently in share trading.
|