October 28, Colombo (LNW): As of 25 October 2024, the Colombo Stock Exchange (CSE) has earned the distinction of being the second-best performing equity index in Asia, highlighted by an exceptional year-to-date return of 29.65 per cent in US$, according to Bloomberg reports.
This remarkable achievement reflects the resilience and dynamism of Sri Lanka’s capital market, which is increasingly attracting both domestic and foreign investors eager to capitalise on its growth potential.
The trading activity over the past week has been particularly noteworthy, with a daily average turnover of Rs. 3.058 billion.
Notably, the CSE recorded two consecutive days of robust trading, with daily turnovers surpassing Rs. 4.7 billion on Thursday and Friday.
This surge in activity indicates a renewed investor confidence and a thriving market environment.
At the end of the trading week, the All Share Price Index (ASPI) closed at 12,517.58 points, just a single point shy of its highest mark for the year. In tandem, the S&P SL20 index, which encompasses the 20 largest and most liquid stocks on the exchange, also demonstrated significant growth, concluding the week at 3,759.30 points.
Such performance solidifies the CSE’s status as a compelling option for investors, fostering positive market momentum and opening avenues for further investment opportunities.
For the week ending 25 October 2024, the total weekly turnover for the CSE reached an impressive Rs. 15.3 billion. The ASPI enjoyed a weekly gain of 1.66 per cent, whilst the S&P SL20 reported an even more robust return of 3.76 per cent.
In contrast, the previous week, which ended on 18 October 2024, saw a markedly lower turnover of Rs. 7 billion, with the ASPI returning just 0.16 per cent and the S&P SL20 a modest 0.49 per cent.
Notably, the ASPI crossed the 12,500 mark for the first time since 10 May 2024, gaining 44.08 points during early trading hours on Friday.
This resurgence in trading activity suggests a growing optimism in the market, underscored by a remarkable increase in participation.
The turnover reached Rs. 4.8 billion for the second consecutive day, reflecting a staggering 95.1 per cent increase compared to the monthly average of Rs. 2.4 billion.
This positive trend within the Colombo Stock Exchange serves as a barometer for the overall economic landscape of Sri Lanka, signalling a potential recovery and growth trajectory following recent economic challenges.
