Thursday, November 15, 2012

Sri Lanka to discontinue Milanka index

Nov 15, 2012 (LBO) - Sri Lanka will discontinue compiling an index of liquid stocks labeled 'Milanka' from January 2013 after a new index was developed by Standard & Poors', an official said.

 Colombo Stock Exchange chairman Krishan Balendra said there was a demand from foreign investors to start an internationally recognized index.

 The S&P SL20 index is compiled according to Standard & Poor's norms used globally he said.

The index can be used to develop exchange traded funds, he said.

Sri Lanka also has an All Share Price Index with all the stocks in the market.

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