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COLOMBO, Jan 24 - The Colombo Stock Exchange (CSE) recorded a seven-year high growth rate for the year 2001. The All Share Price Index (ASPI) which opened the year at 447.6 points, closed at 621.0 points which is an increase of 38.7 percent, The Milanka Price Index (MPI) opened the year at 698.5 points closed at 1031.0 Points at close of trading in December, 2001 gaining 47.6 percent. This is the highest annual growth recorded since 1993 when the ASPI grew by 61 percent, A spokesman for the CSE told Lankapuvath.

He also said that the Colombo Stock Market outperformed almost all major markets. The Mumbai, Karachi, Hong Kong, Jakarta, Manila, Singapore and Tokyo markets declined in 2001 while New York and London too declined. However the Korean market was an exception appreciating 37.4 percent for the year.

During the first three quarters of 2001, the ASPI reported a negative growth of 44.0 points (9.8 PC) while the MPI moved down by 91.0 points (13.0 PC). The fourth quarter of the year witnessed a significant increase in market activities with the ASPI moving up by 217.4 points (53.8 PC) and the MPI reporting a growth of 423.5 points (69.6 PC) thus becoming one of the best performing stock markets in the world.

The ASPI recorded its highest point in 42 months on 10th December (678.2 points) and the MPI which was introduced in 1999 reached an all time high of 1,164.0 points on the same day. ASPI recorded its highest ever point (107.4) and percentage (20.6PC) change for a day on 7th December, he said.

The levels of trading volumes increased significantly during year particularly during the last quarter of the year, the annual turnover level increased by 27 PC from 11.0B in 2000 to 14.0B in 2001. The first nine months of 2001 had an average daily turnover of 29.2M as against an average daily turnover of Rs. 148.3M for the last quarter of 2001. 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 an all time high in the daily turnover of Rs. 866.9 million.

The volume of shares traded too increased significantly. The total volume of shares traded increased by 66.4 PC from 448.6M in 2000 to 746.9M in 2001. However the market saw a reduced number of transactions in the year 2001 from 160,325 trades in 2000 to 159,725 trades in 2001, he said. 

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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