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.
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.
source - www.dailynews.lk
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