|
|
|
 |
 |
 |
| Saturday, 24 July 2004 |
 |
|
 |
News | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
Colombo best perfoming stock market in Asia by Sudarshana Perera The benchmark All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) surpassed all previous levels to reach an all-time high at the close of trading yesterday. The ASPI reached 1,440.65 recording a growth of 35.6 per cent for the year making it the fourth best performing stock market globally and the best performing market in Asia. Yesterday's financial momentum has broken the highest ASPI level set during the UNF tenure, thus signalling that the market would reach greater heights in coming days. The ASPI had its highest closing level of 1,423.5 points on October 23, 2003. Finance Minister Dr. Sarath Amunugama visiting the trading floor at the Colombo Bourse yesterday, said the All Share Price index reaching an all-time high is further proof of the confidence placed by the investor community in the Government. "Today's historic mark is an impetus for us to carry out the United People's Freedom Alliance Government's economic polices. This would further stabilise the economy of the country. We should forge ahead with correct short and long terms economic policies which would really serve the aspirations of the people," Dr Amunugama said. "This is a good testimony to deny the allegations made by the Opposition that the country's economy is unstable," the Minister said. The CSE has been recording a growth in the indices since 2001. In 2001, the ASPI appreciated by 38 per cent, in 2002 by 31 per cent and in 2003 it appreciated by 30 per cent. For 2004 to date, the ASPI has recorded a growth of 35.6 per cent. The CSE has been receiving a significant amount of domestic investor interest and increased volumes of trading in recent times prompting the CSE to extend trading by one hour. The market capitalization of the CSE which was at Rs. 262.8 Billion as at the end of last year has increased by 34.2 per cent to Rs. 352.7 billion. Foreign interest on premier conglomerates, other blue chips, strong corporate results, retail segment attracted confidence level in the market during the last few days. The turnover for the day was Rs 805,520,212. SLT, Seylan Bank, Distilleries, CF Venture Fund, Blue Diamonds and Aitken Spence were heavily traded stocks. The Milanka Price Index recorded gains at 2,165.36 points from 2,121.71 points on Thursday. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
