SEC creates history
Becomes best performing capital market in world:
Political stability spurs investor confidence :
Charumini DE SILVA
The Colombo Stock Exchange (CSE) became the best performing capital
market in the world recording a growth of 111.14 percent, while the All
Share Price Index (ASPI) of the CSE crossed 7,000 milestone creating
history yesterday, Colombo Stock Exchange Business Development Manager,
Thushara Jayaratne said.
The CSE topped with 111.14 percent, followed by MSE Top 20 Index with
109.71 percent. DSE General Index was 56.48 percent becoming the third.
The ASPI closed at 7,147.77 moving up by 150 points whilst the Milanka
Price Index (MPI) recorded 7,829.05 up by 276.3 points.
Colombo Stock Exchange |
The turnover for the day was Rs 6.01 billion. All indices of the
capital market recorded their highest levels yesterday.
Speaking to the Daily News Securities and Exchange Commission (SEC)
Chairperson, Indrani Sugathadasa said the result was a combined effort
of all stakeholders of the stock market.
As the regulator SEC made good directives and guided the market to
have a fair and transparent market.
“The credit should also go to President Mahinda Rajapaksa as he
opened the door for foreign investers to invest in our country and the
political stability of the country provided immense confidence to all
investors”, she said.
Logan Rockefeller Global Lanka Asset Management (Pvt) Ltd., Managing
Director, Channa de Silva said this signifies that all fund managers
across the world are looking at the Bloomberg rankings. Sri Lanka
gaining the top slot will interest and will influence them to invest in
the CSE.
“No other country in the world currently enjoys the unparallel growth
potential that the country offers after the 30-year war. All economic
indicators demonstrate beyond any doubt of rapid impressive economic
conditions in Sri Lanka, which will be a significant factor to attract
investments”, he said.
The Price Earning Ratio (PER) has increased up to 28 times whilst the
Price to Book Ratio (PBR) was over three times. However, at least
another two to three large companies which are doing well in
construction, leisure and power has absolute priority to up the
liquidity and provide the ever increasing local retail market.
The Government development efforts in roads, power, sea, air ports
and other hardcore infrastructure elements are critical to attract
investors. Therefore, their commitment to the country will rapidly
increase with the CSE becoming the best in the world, de Silva said. |