The benchmark All Share Price Index (ASPI) crossed 7000 points level today for the first time since 24 November 2015 closing the trading day on 7,036.76 points. The All Share price index crossed the 7000 mark for the first time on 01stOctober 2010 and reached its highest points level recording 7,811.80 points on 14 February 2011.
The Index and overall market activity continued its upward momentum from 2020 onwards with the ASPI recording a growth of 4% in the first 3 days of 2021 and the market generating a total turnover of Rs. 18 billion. The ASPI has recorded a 66% increase since reaching its lowest point in over a decade on 12thMay 2020.
The S&P SL20 index, which includes the 20 largest and most liquid stocks which declined by 4points today has also gained 2.4% over the past 3 days tracking back points losses as a result of the pandemic back in March 2020 to record its highest since 25 February 2020 closing the trading day on 2,703.19 points. The overall market capitalization of the CSE has also grown significantly over the first 3 days of trading for the year adding Rs. 115 billion and closing the day on 3.08 trillion – which is the highest recorded since April 2018.
Commenting on the market performance CSE CEO Rajeeva Bandaranaike said “We are greatly encouraged by the high volumes and market activity recorded since mid-last year which has continued into the New Year. The continued low interest rate environment has led to an inflow of funds into the Stock market. We will continue to work closely with the market regulator, Stock Brokers and other stakeholders to make the stock market more accessible.”