Over 2.7 million tradings recorded:
CSE remains vibrant
Market capitalization tops Rs 2600 billion:
Charumini de Silva
The Colombo Stock Exchange (CSE) has been a significant contributor
to the economy. As at February 25 this year the market grew by 16.2
percent with the CSE All Share Price Index (ASPI) recording 7,711. 6
while an all time high market capitalization Rs 2,600.6 billion was also
recorded upto February 14, the CSE said.
These activities indicate the substantial growth of the capital
market over the past two years as investor confidence is high and
stable. The number of tradings, sector market capitalization’s and
turnovers has also shown an impressive improvement.
The vibrant Colombo stock market |
According to Richard Pieris Securities statistics, the number of
total tradings in the CSE during the past nine months up to December 31,
2010 has grown from 1,113,385 to 2,759,688 tradings recording a 148
percent growth compared to the corresponding period in 2009. Total
tradings from January 1 to February 24 has recorded as 1,003,006.
The investment trust sector tradings have topped increasing from
15,595 to 226,453 recording a growth of 1,352 percent during the first
nine months ended December 2010.
Footwear and textile sector tradings grew by 1,008 percent, while IT
sector accounted an increase of 626 percent during the same period.
In the past nine months ended in December 31 last year the Banks
Finance and Insurance sector recorded the highest turnover with Rs
144,688,459,594. The average daily turnover this year in this sector is
recorded as Rs 813,686,863 million.
As at December 31 the CSE indexes grew considerably. The ASPI
recorded 96 percent growth, Milanka Price Index (MPI) 83 percent, Banks
Finance and Insurance 145 percent, Beverage, food and tobacco 104
percent, Chemicals and pharmaceuticals 91 percent, Construction and
engineering 37 percent, Diversified 98 percent, Footwear and textile 100
percent, Healthcare 21 percent, Hotels and travels 80 percent,
Investment trusts 11 percent, IT 114 percent, Land and property 41
percent, Manufacturing 79 percent, Motors 240 percent, Oil palms 144
percent, Plantations 110 percent, Power and energy 45 percent, Services
156 percent, Stores and supplies 321 percent, Telecommunications 30
percent and Trading 467 percent.
The highest sector market capitalization as at December 31 was
recorded from the Banks, finance and insurance sector with Rs
489,116,806,382, accounting a growth of 150 percent.
Stores supplies and Investment trust sectors followed with 321
percent and 268 percent growth in market capitalization, in the same
period.
As at February 24 market capitalization of Bank finance and insurance
stand at Rs 551,045,561,861 the Richard Pieris Securities said. |